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December 13, 2017
1.Mistake: The more sophisticated the model, the better.
Correction: The sophisticated models are not necessarily better. Very…
December 13, 2017
Mention "forecasting," and most people think you're talking about their local meteorologist describing temperature ranges and cold…
December 13, 2017
There are basically three types of models, which are:
(1) Time Series
(2) Cause-And-Effect
(3) Judgmental
TIME SERIES MODELS
A Time…
December 13, 2017
It is important to know the difference between forecasting software and forecasting systems. Forecasting software…
December 13, 2017
How to Win the Support of Top Management for Forecasting
Step 1:
Educate top management. Whether management realizes…
December 13, 2017
Very often questions arise how to convince upper management that the forecasting function is absolutely necessary. By calculating…