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Essay

Pitfall of forecasting

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Issue:

Business

 

Written by:

Thomas R

 

Date added:

January 26, 2016

 

Level:

University

 

Grade:

C

 

No of pages / words:

2 / 409

 

Was viewed:

6232 times

 

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Essay content:

Besides that, using product family and aggregated forecasts are more accurate than individual product forecasts. This may helps balance the over and under predictions of each product. Below there are some disadvantages using different forecast analysis. Trend forecast The disadvantage of a trend forecast is that it produces only one result...
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It does not help analyze why the product demand behaves the way it does, and it provides no means to accurately measure how the changes in external variable influence the product demand. Because the assumptions used to make the forecast are usually stated, there is often no way to measure the impact of a change in one of the assumptions...
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