What term refers to extending historical data to create predictions and trend lines?

Extrapolation is a technique used to extend historical data to make predictions about future events or trends. This process involves analyzing existing data to identify patterns or trends and then extending those patterns beyond the known range of the data. By using established data points, extrapolation allows for the estimation of values at points not included in the original dataset.

In various fields, especially in data analysis and health informatics, extrapolation plays a crucial role in decision-making and strategic planning. For instance, healthcare providers can use historical patient data to predict future patient admissions, allowing for better resource allocation and management.

The other terms, while related, do not capture the specific process characterized by extrapolation. Projection may refer more generally to any estimate of future data based on certain assumptions or static models rather than extending existing data trends. Forecasting involves predicting future values based on patterns but can include a broader range of methods beyond simple trend extension. Modeling typically refers to creating a representation or simulation of a system, which may utilize extrapolation as one of its techniques, but does not specifically denote the act of extending historical data.