Forecasting Fundamentals

by Nada R. Sanders

This book is for everyone who wants to make better forecasts. It is not about mathematics and statistics. It is about following a well-established forecasting process to create and implement good forecasts. This is true whether you are forecasting global markets, sales of SKUs, competitive strategy, or market disruptions. Today, most forecasts are generated using software. However, no amount of technology and statistics can compensate for a poor forecasting process. Forecasting is not just about generating a number. Forecasters need to understand the problems they are trying to solve. They also need to follow a process that is justifiable to other parties and be implemented in practice. This is what the book is about. Accurate forecasts are essential for predicting demand, identifying new market opportunities, forecasting risks, disruptions, innovation, competition, market growth and trends. Companies can navigate this daunting landscape and improve their forecasts by following some well-established principles. This book is written to provide the fundamentals business leaders need in order to make good forecasts. These fundamentals hold true regardless of what is being forecast and what technology is being used. It provides the basic foundational principles all companies need to achieve competitive forecast accuracy.

141 pages, Kindle Edition

First published July 1, 2014

Reviews

[Kellie Fisher · Rating 3 out of 5]

Read as part of a Supply Chain Planning class. Good overview of basic forecasting principles, but somewhat repetitive.

[David · Rating 3 out of 5]

Not bad. Good basic book on forecasting method. Not too technical. Pretty short. I was hoping it would dig deeper into more business and strategic perspective (e.g., forecasting as a tool for prediction vs. to understand the future). Anyway, good first book for new managers.