A Better Way to Forecast
Abstract
Every business decision depends on making a forecast of the consequences of the decision. Although most organizations do forecasting most do so badly. They ask either for a point prediction—a single “best guess” forecast when everyone knows that this is an oversimplification of the truth, or for a simple range forecast which is likely to result in biased predictions more often than not In this article, the authors propose a better approach, one...
Paper Details
Title
A Better Way to Forecast
Published Date
Nov 1, 2014
Journal
Volume
57
Issue
1
Pages
5 - 15
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History