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Measuring Improvement in Forecast Accuracy: A Case Study

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  • Robert Rieg

Abstract

Over the past 15-20 years, improvements in forecasting methods, deepening practical experience, and increasing computing power should have allowed companies to significantly improve their forecasting accuracy. In this paper Robert Rieg examines the changes in forecasting accuracy of a large automobile manufacturer between 1991 and 2005. His analysis shows how a company can examine its track record over time and emphasizes the need to distinguish internal from external factors that impinge on forecasting accuracy. Copyright International Institute of Forecasters, 2008

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  • Robert Rieg, 2008. "Measuring Improvement in Forecast Accuracy: A Case Study," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 11, pages 15-20, Fall.
    • Handle: RePEc:for:ijafaa:y:2008:i:11:p:15-20
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    1. Zvi Schwartz & Timothy Webb & Jean-Pierre I van der Rest & Larissa Koupriouchina, 2021. "Enhancing the accuracy of revenue management system forecasts: The impact of machine and human learning on the effectiveness of hotel occupancy forecast combinations across multiple forecasting horizo," Tourism Economics, , vol. 27(2), pages 273-291, March.

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