Measuring the Efficiency of an Informal Forecasting Process

Robert Samohyl

Foresight: The International Journal of Applied Forecasting, 2006, issue 3, pages 16-21

Abstract: Bob Samohyl analyzes a manufacturing company that forecasts orders without a statistical model, on the basis of executive judgment alone. He shows how the company can quickly determine how much potential there is for improving forecast accuracy using even simple statistical models, also noting that cost savings are a likely by-product. Copyright International Institute of Forecasters, 2005

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