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The Benefits of Systematic Forecasting for Organizations: The UFO Project

Author

Listed:
  • Spyros Makridakis
  • Ellen Bonnell
  • Simon Clarke
  • Robert Fildes
  • Mike Gilliland
  • Jim Hoover
  • Len Tashman

Abstract

The purpose of this paper is to provide a realistic assessment of the potential benefits to business organizations that derive from applying systematic forecasting methods, particularly with respect to operational and tactical forecasting problems. Our overall goal is to improve the usage of forecasting in organizations- UFO-while incentivizing the adoption of systematic forecasting in organizations that now employ only ad hoc methods. Copyright International Institute of Forecasters, 2020

Suggested Citation

  • Spyros Makridakis & Ellen Bonnell & Simon Clarke & Robert Fildes & Mike Gilliland & Jim Hoover & Len Tashman, 2020. "The Benefits of Systematic Forecasting for Organizations: The UFO Project," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 59, pages 45-56, Fall.
    • Handle: RePEc:for:ijafaa:y:2020:i:59:p:45-56
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    Cited by:

    1. Petropoulos, Fotios & Apiletti, Daniele & Assimakopoulos, Vassilios & Babai, Mohamed Zied & Barrow, Devon K. & Ben Taieb, Souhaib & Bergmeir, Christoph & Bessa, Ricardo J. & Bijak, Jakub & Boylan, Joh, 2022. "Forecasting: theory and practice," International Journal of Forecasting, Elsevier, vol. 38(3), pages 705-871.
      • Fotios Petropoulos & Daniele Apiletti & Vassilios Assimakopoulos & Mohamed Zied Babai & Devon K. Barrow & Souhaib Ben Taieb & Christoph Bergmeir & Ricardo J. Bessa & Jakub Bijak & John E. Boylan & Jet, 2020. "Forecasting: theory and practice," Papers 2012.03854, arXiv.org, revised Jan 2022.
    2. Makridakis, Spyros & Spiliotis, Evangelos & Assimakopoulos, Vassilios, 2022. "M5 accuracy competition: Results, findings, and conclusions," International Journal of Forecasting, Elsevier, vol. 38(4), pages 1346-1364.

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