Note on Forecasting Techniques

Gupta G S

IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: The Note on Forecasting Techniques discusses (a) the need for forecasts, (b) the alternative forecasting techniques, and (c) the alternative measures of Forecast’s inaccuracy. The discussion of each forecasting technique is illustrated with examples. It concludes that expert judgement plays a role in obtaining forecasts for any variable, using any technique; this role is less significant if statistical techniques are used than if other techniques are used. Furthermore, the note recommends obtaining alternative forecasts, based on alternative assumptions about the future, against obtaining a single forecast for any variable under forecasting.

Date: 1973-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp00085

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