Forecasting software is a tool that helps businesses predict future trends and outcomes based on historical data. By analyzing patterns and using algorithms, this software can provide insights into sales, inventory needs, and market demand. This allows companies to make informed decisions, optimize resources, and improve overall efficiency. Many industries, such as retail and finance, rely on forecasting software to stay competitive. For example, a retail store can use it to determine how much stock to order for the upcoming season, while a financial analyst might use it to project investment returns. This technology ultimately supports better planning and strategic growth.