Forecasting & Planning Knowledge
Why Forecasting?
The question of whether forecasts are necessary crops up from time to time. The inescapable conclusion is that no matter what type of business you are in, or what function you perform, there is a need for some kind of future estimate upon which to build a plan....
What is the difference between Forecasting Software Packages and Forecasting Systems?
It is important to know the difference between forecasting software and forecasting systems. Forecasting software is a stand-alone package that generates forecasts either via a model selected by the forecaster or through one chosen by the software...
7 Deadly Mistakes In Modeling and Forecasting
[Login to read]
1.Mistake: The more sophisticated the model, the better. Correction: The sophisticated models are not necessarily better. Very often, simple models can give you as good as or better forecasts than complex models....
Top Misconceptions about Forecasting
[Login to read]
Mention "forecasting," and most people think you're talking about their local meteorologist describing temperature ranges and cold fronts....
What Types of Forecasting Models are Available?
[Login to read]
There are basically three types of models, which are:
(1) Time Series
(2) Cause-And-Effect
(3) Judgmental....
Forecasting Software Versus Forecasting Systems
[Login to read]
It is important to know the difference between forecasting software and forecasting systems....
How to Win Support of Top Management for Forecasting?
[Paid Member Login to read]
For a forecasting function to succeed in a company, it needs the support of top management, because it needs resources to start and maintain it, which only top management can provide....
Calculate How Much Money You Will Save By Reducing Forecast Error
[Paid Member Login to read]
Very often questions arise how to convince upper management that the forecasting function is absolutely necessary. By calculating how much you will save for each percentage error reduced, this template will help you justify the support for the forecasting function to management. ....
© Copyright 2005 by Institute of Business Forecasting. All rights reserved. This material may not be duplicated for any profit-driven enterprise.
| 
