Incorporating Leading Indicators into Sales Forecasts

Nikolaos Kourentzes and Yves Sagaert

Foresight: The International Journal of Applied Forecasting, 2018, issue 48, 24-30

Abstract: Using leading indicators for business forecasting-in contrast to macroeconomic forecasting-has been relatively rare, partly because our traditional time-series methods do not readily allow incorporation of external variables. Nowadays, however, we have an abundance of potentially useful indicators, and there is evidence that utilizing relevant ones in a forecasting model can significantly improve forecast accuracy and transparency. In this article, Nikolaos and Yves show how to find appropriate leading indicators and make good use of them for sales forecasting. Copyright International Institute of Forecasters, 2018

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:for:ijafaa:y:2018:i:48:p:24-30

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