How To Identify And Correct Politically- Motivated Forecasts

HOW TO IDENTIFY AND CORRECT POLITICALLY-MOTIVATED FORECASTS By Anthony Michail Describes how to look for a forecast error caused by political manipulation and how to correct it … the most difficult part is not to identify the causes, but to convince the senior management that it is not a good practice … one way to improve your forecasting process is to benchmark it with other companies in the industry. The forecast error is the difference between the forecast and the actual demand. There are two significant, but very different contributors to a forecast error: random variations above and below the average demand and personal bias. Knowing how to identify and correct the bias helps to improve forecasts, which is the objective of this article. Baxi Potterton is part of the Baxi Group, one of the Europe’s leading heating and home comfort specialists, which employs over 5,500 people throughout Europe, and has a turnover of over 1 bil. (£700 mil.) From the centres of manufacturing excellence in the UK, Italy, France, Germany and Denmark, the Baxi Group produces energy efficient, central heating boilers, hot water heating and storage units, space heaters, radiators, and showers. ...