Forecasting: the key to managerial decision making

Dianne Waddell, Amrik S. Sohal

Research output: Contribution to journalArticleResearchpeer-review

31 Citations (Scopus)

Abstract

The successful businesses of the future are being created today by individuals and teams in tune with fast‐moving technologies, new markets and changing lifestyles. New disciplines have sprung up, new professions are born and new skills are in demand. There is a need to blend the new skills with those of the older professions. Many business decisions involve forecasting. In recent years its scope has expanded well beyond technical aspects. Addresses a broader set of managerial concerns through down‐to‐earth descriptions of forecasting, its advantages and limitations, and its role in the managerial decision‐making process. Uses a case study to demonstrate the application of a forecasting method.
Original languageEnglish
Pages (from-to)41-49
Number of pages9
JournalManagement Decision
Volume32
Issue number1
DOIs
Publication statusPublished - Feb 1994

Keywords

  • Box Jenkins method
  • Delphi method
  • econometrics
  • exponential smoothing
  • forecasting
  • input/output analysis
  • management information
  • product lifecycle
  • regression analysis
  • uncertainty

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