Any sports fan who has ever dashed to the kitchen to grab a beer just as their favorite team botched a play that flipped the score knows well the adage that the game isn’t over until it’s over. You can’t project the winner of a football game at halftime, or even in the final seconds if it’s a close one.
But that’s exactly what happens in the retail industry and never more so than leading up to and during the critical holiday quarter. Thanks to technology that has given us access to real-time data, companies in the business of forecasting trends crank out headline-grabbing reports based on the statistical equivalent of a snapshot.
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