How does an organization identify current and future information needs and incorporate modification in to collection and reporting processes?

Smart organization utilize forecasting predict future event so that they can prepare and innovate ahead of time.Forecasting means to plan in advance; to make predictions or statements regarding possible or probable future conditions.It is the foundation upon which strategic management is built and can be used to develop assumption around which future goals, objectives, budget and plans are built.By planning and managing effective data collection organization utilize forecasting to build sustainability into their current and future business activities.