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Six Golden Rules for Improving Forecasts—General Motors’ Journey
This article describes the various steps that General Motors has taken to improve forecasts for better decision making. These include reducing waste, using consistent methods and data each time to see what is working and what is not, employing more statistical tools and less judgment, and encouraging employees to share their learning with others. The forecasting team was also encouraged to constructively challenge analysis rather than accept anything at face value. Above all, the initiatives created a culture where senior leaders became champions of our forecasting efforts.