With the exception of the occasional James Bond movie that proves the rule, we don’t as a matter of course combine our modes of transportation into one all-purpose vehicle, and we even tend to park our cars, boats and planes in separate facilities. But when it comes to financial management,
Creating an accurate forecast begins by reviewing history. But what if you haven’t collected data that can act as a good representation of what to expect? That was the challenge facing Arthur Kordon, Leader of the Advanced Analytics Group, The DOW Chemical Company in 2009. The 2008 crisis hit like
~ Contributed by Mike Gilliland ~ If we know the future demand for our products or services, we will only invest in the resources, capacity, materials, and staffing that will most profitably satisfy that demand. But we don’t know the future, so we have to forecast…and that’s where the trouble
Next up in the SAS Applying Business Analytics Webinar Series is Forecasting 101! This Webinar is appropriate for anyone involved in the creation, review or utilization of forecasts: demand planners and forecast analysts who generate forecasts; managers in sales, marketing, finance and operations; and executives who oversee the forecasting and
Over 80 banks in America have been closed down this year and others have announced higher trading losses amidst increased regulatory scrutiny. Finland was the first country to announce a double dip recession. Northern Rock cut 650 jobs as part of their restructuring efforts. We’re obviously not out of the
Wow, what a couple of days!! I was involved with the SAS Business Forecasting Conference the last two days and I am impressed with all that I saw and learned! F2010 brought 238 people together from 16 countries to share best practices around business forecasting. You have to take a
Whether it be ash clouds, strikes or financial difficulties, the airline industry is having a turbulent time right now. When I used to live in London, I’d pass Heathrow airport regularly. On a clear day you could see at least 10 planes stacked on their approach to the runway –
As more organizations are realizing greater value tapping into their time series data in new and innovative ways, we are often asked about books we would recommend on time series analysis. I have consulted with some internal experts and wanted to post this list of recommended books on the topic since
Professor Paul Goodwin from the Management School at the University of Bath in England was the keynote presenter at the A2009 Analytics Conference in Copenhagen. He revealed some interesting research that he and his colleagues observed about the way companies attempt to predict the future at various points in their
This morning, the good folks in Punxsutawney, Pennsylvania heard from Punxsutawney Phil that he did see his shadow. What they don't know is that he used SAS to predict whether his shadow was there or not. For years, Phil has wandered out into the freezing cold to determine if winter
