There’s no question that judgment can (and probably should!) play a significant role in arriving at your final, consensus forecast–but statistical forecasting can offer a level of automation and insight that can substantially improve your forecast accuracy.
Preparing forecasts using data that contain one or more unusually large or small demand periods can be challenging. Depending on your forecasting approach, these “outliers” can have a significant impact on your forecasts. This article surveys three different approaches to forecasting data containing unusual demand periods, discusses the pros and cons of each and recommends [...]
The recording of our recent educational one-hour Webinar is now available for viewing on-demand http://www.youtube.com/watch?v=fvQEdYfqXSY This session demystifies regression modeling, demonstrating how these models can provide insight into your data and why they often yield more accurate results than alternative forecasting methods. Learn: When to apply regression models How to build and diagnose the models How [...]
Forecasting is a dynamic and interdisciplinary field that involves a multitude of people, processes and techniques. Forecasters are constantly building on their current pool of knowledge in order to improve their processes, drawing on whatever resources they can find. A forecaster’s best resource, however, is often other forecasters—but it can be difficult to share information [...]