The storage of forecasts

Article Abstract:

The key to effective forecasting systems are database design and storage of data. Thus, the basic consideration in designing a forecasting system is the context in which the forecast was made and in which it will be used. This context can be defined by four variables upon which forecasting data are built, namely, time, product, geography and customer. After determining the context, a consensus must be reached among all functional areas within the organization on plans for the future.

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Using demographic data to drive business forecasts and profit plans

Article Abstract:

A case study demonstrating the use of demographic data in business forecasts and profit plans is presented. Demographic data is important in forecasting and planning activities when the demand for a product or service is sensitive to a demographic makeup. In such cases, focus on the demographic sensitivity of demand will result in more accurate forecasts and enable managers to properly evaluate proposed strategiesfor improving profit.

Usage, Profits, Demographic surveys, Corporate profits

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Forecasting as a learning tool

Article Abstract:

Blue Cross and Blue Shield of Massachusetts has incorporated modelling and forecasting in its drive for a new strategy and vision for the company. Models and forecasts are regarded as valuable learning tools which can help the company become a leader and innovator in the health care industry. They can help simulate and test assumptions as well as to ask and find the questions that are relevant.

Hospital and medical service plans, Health and allied services, not elsewhere classified, Accident and health insurance, Health care industry, Blue Cross and Blue Shield of Massachusetts Inc.

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