The Business Forecasting Deal
Exposing bad practices and offering practical solutions in business forecasting
The International Institute of Forecasters and SAS® announce two $10,000 grants to support research on forecasting. Per the announcement: Forecasting research has seen major changes in the theoretical ideas underpinning forecasting effectiveness over the last 30 years. However, there has been less impact on forecasting practice. We aim to put
Back in 2013 the BFD asked Is one number forecasting a new worst practice?, concluding yes. Certainly, it is important for an organization to be aligned, with different functions like sales, supply chain, and finance not going off independently in their own directions, doing whatever they want. But trying to
Editor-in-Chief Len Tashman's Preview of the Summer 2019 Issue of Foresight This 54th edition of Foresight features an important new take on the role of judgment in the forecasting process. Normally, we see judgment applied to adjust a statistical forecast or supply a forecast directly. But here Fotios Petropoulos proposes
Special Feature Section Our special feature section in this 53rd issue of Foresight poses the question, Are You a Victim of Your Models? Here Tom Willemain, a longtime contributor to the journal, ponders why modeling and optimization algorithms haven’t displaced “gut instinct” in supply-chain forecasting as much as one would
The value of any data lies, of course, in its use to make better decisions that lead to more favorable results – like increased revenue and profit, improved customer satisfaction, and increased safety. The Internet of Things is giving us a lot more data. The challenge is how to manage
This issue's preview is provided by Ralph Culver, Foresight's manuscript editor. Preview of Winter 2019 issue of Foresight The Winter 2019 issue of Foresight—number 52—kicks off with Simon Clarke’s enthusiastic review of The Little Illustrated) Book of Operational Forecasting by Dr. Steve Morlidge. Every year brings us new, inexperienced business-operations