Searching for Better Forecasting Methods?
I know the feeling.
Forecasting is important to nearly every business, but it can be hard to get right. As an MBA and a management consultant with over 30 years of business experience, I've seen the forecasting challenges of countless executives and managers. I've also faced some of these same issues myself during nearly 20 years as a manager and executive at Fortune 100 corporations. Through it all, I've learned some practical techniques and strategies that are important whether building one yourself or reviewing one created by others.
I'd like to share these ideas with you. They will be the most useful for business leaders, and for others with responsibility for delivering business results. In this website, we will focus on practical applications, will provide an overview of the correct usage of the tools, and will include references for those needing more detailed information.
In this subject, as in many other things, quality is determined by the strength of the weakest link. We'll offer some ideas that help to make sure that chain is as short (fewest possible links) and as strong (solid links) as is practical for you.
We realize that what is practical for a corporate statistician is not necessarily practical for a busy manager, executive, or small business owner. Business forecasting is much more of an art than a science. That means maintaining a practical balance between the specific needs of your business and the cost and time required to achieve them. We'll focus on the art, but will deal with some of the science as well -- and from a manager's perspective.
I hope these ideas provide as much benefit to you as they have for me over the years.
To get started, I suggest clicking on the "Introduction" link to the left. This will provide a good overview and some tips on getting the most from the site.
Good luck with your business, and good forecasting!