Foresight published a new e-publication on Forecast Accuracy Measurement: Pitfalls to Avoid and Practices to Adopt. It is now available for sales at the Foresight Document Store.
Forecasters are under pressure to produce the most accurate forecasts possible — an especially difficult task in today's unpredictable business climate. But flaws in the way you measure and track forecast accuracy can undermine your best efforts.
The new report Forecast Accuracy Measurement: Pitfalls to Avoid and Practices to Adopt, will confirm the best practices you've already implemented, reveal new ones, and help you nip in the bud those practices that hamper your efforts to improve.
The authors are top practitioners, consultants, and academics in the field of forecasting. The opening Tutorial on the Measurement of Forecast Accuracy describes 16 taboos and how to avoid them. The report then provides extensive guidance and direction for:
1. Choosing Accuracy Metrics
2. Benchmarking Accuracy and Assessing Forecastability
3. Determining the Cost of Forecast Error
Forecast Accuracy Measurement: Pitfalls to Avoid and Practices to Adopt
gives you this comprehensive expertise all in one place. Use it to bring your team
up to speed, share it with your clients, or adopt it as a classroom resource.