(new book) Business Forecasting: The emerging role of AI and ML

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With my collaborators Len Tashman (Editor of Foresight) and Udo Sglavo (VP of Analytics R&D at SAS), we are happy to announce the release of our new collection, Business Forecasting: The Emerging Role of Artificial Intelligence and Machine Learning (Wiley, 2021).

Cover of Business Forecasting

Building upon our previous collection Business Forecasting: Practical Problems and Solutions (Wiley, 2015), we've gathered 50 of the most important and influential articles and commentaries published over the five years since that book -- with special emphasis on the exciting new work in AI and ML. In addition, we included sixteen original opinion/editorial "Afterwords" by recognized thought leaders from academics and industry.

Special thanks to Spyros Makridakis and Fotios Petropoulos, who co-authored the Foreword, and who teamed with Rob Hyndman to write the exceptional opening section on forecasting's "state of the art" (originally published in the International Journal of Forecasting). Forecasting heroes of mine, we haven't seen a triumvirate like these three since ancient Rome.

The articles and commentaries are organized into five chapters:

  1. Artificial Intelligence and Machine Learning in Forecasting
  2. Big Data in Forecasting
  3. Forecasting Methods: Modeling, Selection, and Monitoring
  4. Forecasting Performance
  5. Forecasting Process: Communication, Accountability, and S&OP

As with our previous book, we've sought a diverse selection of authors and opinions -- and not always of the same opinion -- to give readers a broad perspective on the various topics. AI and ML (and to a diminishing degree Big Data) have been hot topics the last few years. Our objective was to provide informative content and plenty of references for further reading, while avoiding the cheerleading and hype.

As you see in chapters 3-5, we've also included the latest material on topics of traditional importance to business forecasters. While not in the spotlight being shined on AI and ML, there continues to be essential, groundbreaking work in these areas.

Available now, you can order from your favorite online bookseller, or buy an electronic version at the SAS Bookstore.

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About Author

Mike Gilliland

Product Marketing Manager

Michael Gilliland is a longtime business forecasting practitioner and formerly a Product Marketing Manager for SAS Forecasting. He is on the Board of Directors of the International Institute of Forecasters, and is Associate Editor of their practitioner journal Foresight: The International Journal of Applied Forecasting. Mike is author of The Business Forecasting Deal (Wiley, 2010) and former editor of the free e-book Forecasting with SAS: Special Collection (SAS Press, 2020). He is principal editor of Business Forecasting: Practical Problems and Solutions (Wiley, 2015) and Business Forecasting: The Emerging Role of Artificial Intelligence and Machine Learning (Wiley, 2021). In 2017 Mike received the Institute of Business Forecasting's Lifetime Achievement Award. In 2021 his paper "FVA: A Reality Check on Forecasting Practices" was inducted into the Foresight Hall of Fame. Mike initiated The Business Forecasting Deal blog in 2009 to help expose the seamy underbelly of forecasting practice, and to provide practical solutions to its most vexing problems.

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