Measuring the Efficiency of an Informal Forecasting Process

Robert Samohyl ()

Foresight: The International Journal of Applied Forecasting, 2006, issue 3, 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

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:for:ijafaa:y:2006:i:3:p:16-21

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