One of the problems with economic forecasting is that a small change in a few variables can make predictions almost impossibly complex. The maths can quickly become complicated.
Continue reading Why experts often get predictions wrong
Enterprises can gain significant long-term benefits by applying predictive analytics to their operational and historical data. The technology can help companies quickly identify and respond to new opportunities.
Continue reading Predictive Analytics Delivers Strategic Benefits
An analysis of Reuters shows economists were too optimistic about major monthly indicators in the United States, euro zone and Britain – a list that includes industrial output, jobs, business and consumer sentiment data, and purchasing managers’ indexes.
Continue reading Bad Habits Plague Economic Forecasting
Next month the federal government will start to ramp up its campaign against Medicare fraud with technology aimed at uncovering bad claims before they are paid. The approach will use risk-scoring tools to analyze claims as they come in.
Continue reading Predictive Modeling fights Medicare Fraud
Any good business will have a system of sales forecasting as part of its critical management strategy. But most sales forecasts are, by nature, inexact. The trick, experts say, is to know in which direction they’re wrong, and turn that into a picture of how your business is doing.
Continue reading Tips for Improving Sales Forecasting
Unfortunately for the Bank of England, although its historic record here has been good, forecasts in recent years have been shown to display a steady underestimation of inflation, according to a recent study of the Centre for Policy Studies. Some say it’s ‘wishful thinking’.
Continue reading England’s Inflation Forecasts Increasingly Inaccurate
World-class companies can’t afford to make big forecasting errors. They create a culture of measurement in which sales and marketing managers work in synch to achieve their goals. Forecasting helps to respond faster to the market.
Continue reading Better Forecasting To Catch Market Changes Earlier
Atlanta-based home improvement company Home Depot found a surprisingly accurate predictor of growth for the company in the form of an esoteric housing measure that combines new construction, broker commissions, improvements and several other indicators.
Continue reading Home Depot Rethinks Forecasting
The Bank of England's core forecasting model is to be revamped by the year-end but those hoping for a fundamental change of approach will be disappointed. It will be more a technical upgrade than an admission that their model was lacking.
Continue reading Bank of England tweaks Forecasting Model
The Bank of England's core forecasting model to be revamped by the year-end but those hoping for a fundamental change of approach will be disappointed. It will be more a technical upgrade than an admission that their model was lacking.
Continue reading Bank of England Tweaks Forecasting Model