Benchmarking forecasting errors

Article Abstract:

Business forecasts are impossible to become 100% accurate, and as such, it is important that practitioners learn how much error they can afford. The cost of an error, the company's adjustment capability, and industry benchmarks are all important in evaluating forecasting errors. The characteristics of forecast errors, depending on different circumstances, are also presented.

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Benchmarking forecasting error

Article Abstract:

The superior business plans depend on the accuracy of forecasts. The three ways of benchmarking forecast errors, the three chief characteristics of forecast errors, and suggestions for reducing forecast errors are discussed.

Methods, Prevention, Benchmarks, Benchmarking, Errors, Errors (Mistakes), Benchmark

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Benchmarking the management support for a forecasting function

Article Abstract:

The support of top management is vital for the success of any forecasting function. Analysis shows that there has been an increase in the awareness about business forecasting.

Evaluation

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