Judgmentize your forecasts for quick and accurate results

Article Abstract:

Human judgment must be used to obtain more marketable and accurate business forecasts. Judgment can be used to make adjustments to system-generated predictions to take prevailing market forces into account. Judgement must be used when past data may be irrelevant or when there is no data at all. Judgement can be used to evaluate permanent data changes and any abnormal values, with judgement the only possible means of long-term forecasting. A data set and a model can be matched by employing judgment, with forecast quality dependent on the accuracy of the match.

Usage, Prediction (Logic), Judgment (Logic)

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Study your data before preparing forecasts

Article Abstract:

Additional guidelines for preparing forecasts are presented. Earlier, a partial list of questions to be asked while studying the data was outlined. Theremaining eight questions are discussed. Asking these questions concerning statistical data enables a forecaster to spot when and where adjustment is required, what pattern the data form and similar other information that can help in choosing the right model.

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