Multidisciplinary Journal of Science and Technology

Probabilistic forecast model as a time management tool

Anatoliy Babichev

Department of Management and Administration, V. N. Karazin Kharkiv National University, Ukraine

Anna Chkheailo

Department of Management, Business and Professional Communications, V. N. Karazin Kharkiv National University, Ukraine

Lyashenko Vyacheslav

Department of Media Systems and Technology, Kharkiv National University of Radio Electronics, Ukraine

Keywords: Model, Forecast, Probability, Banking, Time management

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Abstract

Forecasting plays an important role in economic research. This allows you to justify and make informed and effective decisions. For these purposes, various methods, approaches and models can be used. At the same time, among the possible models, we highlight probabilistic models that allow us to take into account individual characteristics of the processes, phenomena, and objects under study. We can also build models with given characteristics, which allow us to plan some developments. At the same time, the process of predictive modeling is important in the allocation of various resources. Here, a special place is occupied by the resource of time, which allows one to effectively influence the redistribution of other resources. Thus, we consider probabilistic forecasting models as a time management tool. Using the example of specific probabilistic characteristics, we justify the construction of a certain probabilistic forecast model. We show the possibility of using such a model in time management. The work also provides a number of diagrams and graphs that allow you to understand the progress of this study.

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