Forecasting in Business

Abstract

There is little managementliterature on forecasting at national level and scarcepractical issues. We are told only that there are severalforecasting methods and that forecasting is a tool ofstrategic management. After addressing several claimsabout forecasting made in management literature, thispaper presents several forecasting methods used inoperational management.

Keywords

• operational vs. strategic forecasting
• decision tress
• parametric forecasting