Monthly Archives: March 2014

Exception Reporting in Forecast Pro TRAC (Part II)

2014-03-31T10:08:15+00:00March 31st, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , |

Forecast Pro TRAC provides a wide array of exception reports, including reports which monitor your archived forecasts (i.e., previously created and saved forecasts) and reports which monitor your current forecasts (i.e., the forecasts you are working with but haven’t yet finalized). Exception reports enable you to quickly find cases where key performance metrics have fallen [...]

Exception Reporting in Forecast Pro TRAC (Part I)

2014-03-14T14:39:24+00:00March 14th, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , , |

Forecast Pro TRAC provides a wide array of exception reports, including reports which monitor your archived forecasts (i.e., previously created and saved forecasts) and reports which monitor your current forecasts (i.e., the forecasts you are working on but haven’t yet finalized). Exception reports enable you to quickly find cases where your forecast error or some other [...]

Managing Forecasts by Exception

2014-03-12T15:01:49+00:00March 12th, 2014|Categories: Forecasting Education|Tags: , |

Human review of a statistically-generated forecast is an important step in the forecast process. Ideally, every statistical forecast should be inspected for plausibility. At times, the sheer volume of the forecasts being generated precludes exhaustive individual inspection. In these instances, exception reports are an effective tool to help you sift through the forecasts and focus [...]

Forecast Accuracy Measurement & Tracking in Forecast Pro TRAC

2014-03-10T08:27:54+00:00March 10th, 2014|Categories: Forecasting Education, Using Forecast Pro|Tags: , , |

Here’s a question that we get all the time: what forecast accuracy should we target? The answer varies widely across industries and organizations–there is no single “optimal” forecast accuracy (other than 100% accuracy, which is not practical)! The one universal answer is that forecast accuracy can be considered “good” when it is an improvement over the [...]