A Blueprint for Selecting and Implementing a Forecasting Support System: Part 2

Matthias Luetke Entrup and Dennis Goetjes

Foresight: The International Journal of Applied Forecasting, 2018, issue 51, 8-15

Abstract: Finding that Small and Medium-sized Enterprises (SME) have lagged behind their larger counterparts in the adoption of suitable forecasting support systems (FSS), Matthias Luetke Entrup and Dennis Goetjes set out to provide a structured process for the SME to identify, select, and implement an FSS that meets the organization?s particular requirements and fulfills or exceeds expectations. The structured process has these major steps: 1. Identify requirements on data structure and representation 2. Evaluate forecasting algorithms 3. Determine requirements for collaboration 4. Identify technology (hardware and software) requirements 5. Follow a sequential implementation process from high-level project assessment through provider comparison and selection, contract negotiation, system specification, testing and refinement, development of a pilot and, finally, rollout. Steps 1-4 were examined in Part 1 of this article in our Summer 2018 issue. Now the authors focus on implementation, the final but perhaps most challenging phase of the process. Copyright International Institute of Forecasters, 2018

Date: 2018
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