time series

How do you use Statistical Models to Forecast Sales?

2018-02-22T09:17:36+00:00February 22nd, 2018|Categories: Forecasting Education|Tags: , , , , , |

Sales and demand forecasters have a variety of techniques at their disposal to predict the future. While most analysts will examine historical sales or other kinds of data as a guide, many forecasters rely heavily on judgment. There’s no question that judgment can (and probably should!) play a significant role in arriving at your final, [...]

What are Time Series Methods and When Should I Use Them?

2015-08-17T12:27:18+00:00August 17th, 2015|Categories: Forecasting Education|Tags: |

Time series methods are forecasting techniques that base the forecast solely on the demand history of the item you are forecasting. They work by capturing patterns in the historical data and extrapolating those patterns into the future. Time series methods are appropriate when you can assume a reasonable amount of continuity between the past and [...]

Terms Every Forecaster Should Know

2013-04-11T18:26:42+00:00April 11th, 2013|Categories: Forecasting Education|Tags: , , , , , |

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 [...]