Management Forecasting: Survey Findings and Business Implications

Abstract

Accurate forecasting is one of the most critical issues for business planning. Knowing how best to generate forecasts and how others are performing this function is important information for managers. This study reports on forecasting practices in US firms based on a survey of 500 companies. In addition to information on techniques and software used, this survey attempts to gain insights into managerial forecasting practices. These include identifying common causes of forecast errors, typical problem areas, and plans for the future to improve forecasting. Based on these findings specific implications for managers are developed.

Citation

Sanders, N.R. (1997), "Management Forecasting: Survey Findings and Business Implications", American Journal of Business, Vol. 12 No. 1, pp. 35-40. https://doi.org/10.1108/19355181199700004