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The forecaster as a key member of the strategic planning team

Article Abstract:

Business forecasters should strive to become important members of the strategic planning team. They can achieve this goal not by merely providing accurate information but by making suggestions on what action should be taken in response to the information. Forecasters should also provide causal models because these illuminate business factors that should be considered in strategic planning. When presenting their facts, forecasters should communicate in a manner that is understandable to senior management.

Planning, Management, Practice, Business planning, Strategic planning (Business)

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A forecaster's journey: challenges and frustrations in a media company

Article Abstract:

Layton W. Franko, president of Media Economics, a company that provides consulting services in the areas of forecasting and media analysis, narrates his experiences as a media forecaster. Forecasting media expenditures gives more challenges than consumer product forecasting, he says. Forecasting the top of the line numbers, advertising revenues, despite the political frustrations involved, is quite challenging.

United States, Methods, Analysis, Advertising expenditures, Income forecasting

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Odyssey of a forecaster

Article Abstract:

Forecasting is a business approach that should be made following certain guidelines. Guidelines include use of proper nomenclature, forecast use, use of standard measuring instruments, consistency in time variables, consistency in the levels of detail, efforts to improve accuracy and the elimination of 'fudge factors.' It is also wise to use a single forecast to work on rather than use multi forecasts.

Forecasting, Standards

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