Forecasting Software — The Past And The Future

FORECASTING SOFTWARE — THE PAST AND THE FUTURE By Michael Gilliland and Michael Leonard Forecasting software developers have made significant progress in the area of automation, scalability, and the incorporation of judgment into a forecast … we now have access to more and better data but the demand patterns are becoming worse … as more people touch a forecast through collaboration there are more chances for the forecast to get worse as well as better. Forecasting is a serious business, but not all parties to the history of forecasting can be taken seriously. In the past, it was the prophets, oracles, astrologers, and psychics who provided us with guidance about the future—from when to plant crops to when to go to war. Today there is no shortage of self-proclaimed “seers” and “futurists” that will gladly provide guidance for a fee, but we also have access to terabytes of data, powerful computers, statistical software, and elaborate acronymed processes. This article looks at the historical evolution of the forecasting profession, examines what the forecasting software industry has provided us over the past twenty-five years, and takes a glimpse at where the industry ...