Why is Integrating External Data Crucial for Comprehensive Forecasting in Internet Businesses?

As the Growth Consultant for 'GreenGrowth', a company specializing in sustainable energy solutions, you are exploring various forecasting methods. Choose the scenario(s) that would most benefit from integrating external data into the forecasting model:


  • 1. Predicting market demand for solar panels in new regions, considering not just past sales but also regional economic growth, government policies, and environmental factors.

  • 2. Estimating next quarter's sales based on the company's sales data from the previous year.

  • 3. Assessing the impact of global economic changes on the pricing strategy for upcoming sustainable products.

Choose the closest answer: