Archive for June 1st, 2009

Models Alone are Not Enough for Improving Forecasts

June 1, 2009
By Chaman Jain
Models Alone are Not Enough for Improving Forecasts

Statistical models are important, but they are not the be all and end all of forecasting. Forecasts can be further improved if: 1) Data is properly analyzed and treated before using a model 2) Have a process in place for obtaining data/information/feedback from various stakeholders, both within and outside the organization 3) Have a...
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Posted in Forecasting and Planning | 3 Comments »

 

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