Monitoring Forecast Models Using Control Charts

Joseph H. Katz

Foresight: The International Journal of Applied Forecasting, 2020, issue 56, 20-25

Abstract: In this article, Joe Katz presents a new application of control charts for automatic monitoring of forecast errors. He reviews the traditional rules for statistical process control and then applies these along with custom rules to determine whether a forecasting model should be maintained, adjusted/refit, or discarded and replaced. Journal: Foresight: The International Journal of Applied Forecasting

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:for:ijafaa:y:2020:i:56:p:20-25

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