In a pair of articles published in Foresight, and in his SAS/Foresight webinar "Avoidability of Forecast Error" last November, Steve Morlidge of CatchBull laid out a compelling new approach on the subject of "forecastability." It is generally agreed that the naive model (i.e. random walk or "no change" model) provides
Engaging the sales force in forecasting sounds like a good idea, doesn't it? Compared to everyone else in the organization, don't sales people have the closest contact with our customers? Therefore, shouldn't they know better than anyone else our customers' future behavior? There are at least three problems with assuming
Whether to engage sales people in the forecasting process remains hotly debated on LinkedIn. While I have no objection in principle to sales people being involved in the process, I'm very skeptical of the value of doing so. Unless there is solid evidence that input from the sales force has improved
A recurring question among business forecasters is how to incorporate input from the sales force. We discussed this last year in The BFD post "Role of the sales force in forecasting." But the question came up again this week in the Institute of Business Forecasting discussion group on LinkedIn, where
SAS/Foresight Webinar Series On Thursday February 20, 11am ET, join Martin Joseph, Managing Owner of Rivershill Consultancy for this quarter's installment of the SAS/Foresight Webinar Series. Martin will be presenting "The Forecasting Mantra" -- a template that identifies the elements required to achieve sustained, world-class forecasting and planning excellence. He'll also
Life gifts us very few miracles. So when a miracle happens, we must be prepared to embrace it, and appreciate its worth. In 1947, in New York City, there was the Miracle on 34th Street. In 1980, at the Winter Olympics, there was the miracle on ice. In 1992, at the Academy Awards, there was
I've always thought of TV weather forecasters as just talking heads. Sure they look pretty, waving hands in front of fancy green-screen graphics, reading poetically off the teleprompters, and standing fearlessly in the midst of the worst storm conditions. But could we expect man candy as tart as Al Roker and Willard
Where is global warming when you need it? Throughout much of the southeast, life has been at a standstill since midday yesterday, when 2" of snow and 20oF temperatures brought civilization to its knees. If your life, or at least your forecasting career, is at a similar standstill, make plans to
In this quarter's installment of the SAS/Foresight Webinar Series, Martin Joseph and Alec Finney of Rivershill Consultancy discuss "The Forecasting Mantra." Based on their article in the Winter 2009 issue of Foresight: The International Journal of Applied Forecasting, the webinar provides a template that identifies all the elements required to achieve sustained, world-class forecasting
High in the mountains of Colorado, Foresight editor-in-chief Len Tashman previews the new issue: What proficiencies are essential for today’s business forecasters and planners? Sujit Singh offers a detailed and quite formidable list in Critical Skills for the Business Forecaster, our feature article in this 32nd issue of Foresight. While
