Judgmental Adjustments to Forecasts in the New Economy

Manzoor Chowdhury and Sonia Manzoor

Foresight: The International Journal of Applied Forecasting, 2015, issue 38, 31-36

Abstract: Manzoor and Sonia see an ever-increasing use of judgmental adjustments to statistical forecasts. In this large part, they attribute this dependence to the complexities of the ?new economy,? in which, for example, there has been a ?proliferation of distribution channels,? thus fragmenting the historical data on which statistical forecasting relies. So, despite improving technology and systems capabilities, forecasters and planners may face growing pressures to override their statistical forecasts, and perhaps greater difficulty than ever in meeting management?s expectations while keeping personal and organizational biases contained. Copyright International Institute of Forecasters, 2015

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:for:ijafaa:y:2015:i:38:p:31-36

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