Ronald L. Iman, Mark E. Johnson and Charles C. Watson,. Jr. Virtually every aspect of hurricane planning and forecasting involves (or should involve!) the science of statistics. The very active 2004 ...

Widely used methods of automated forecasting for production and inventory control contribute to the severity of recessions. We describe an approach to forecasting that should reduce the damage caused ...

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This is an excerpt of the original article. It was written for the July-August 2017 edition of Supply Chain Management Review. The full article is available to current subscribers. A few years ago, a ...

Time series forecasts are used to predict a future value or a classification at a particular point in time. Here’s a brief overview of their common uses and how they are developed. Industries from ...

Budget process evolution and maturity in healthcare organizations traditionally has lagged other industries, where leading-edge and data-driven forecasting approaches are currently evolving. Most ...

We develop methodology to bridge scenario analysis and risk forecasting, leveraging their respective strengths in policy settings. The methodology, rooted in Bayesian analysis, addresses the ...

Sales forecasters balance past sales data with information on market conditions, politics, fashion and even the weather to predict future sales. Sales forecasts thus help business owners plan strategy ...