Article | REF: AG5150 V2

Forecasting methods at the heart of decision making

Author: Mohamed Zied BABAI

Publication date: October 10, 2013, Review date: January 12, 2022

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1. Characteristics and principles of forecasting methods

Faced with companies' growing need for decision support in an uncertain environment, forecasting is often based on human judgment and statistical tools. This has led to a plethora of forecasting methods being developed over the last few decades ( ).

As a reminder and by definition, a forecast is an estimate of the future evolution of a variable of interest. Its main purpose is to reduce...

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Characteristics and principles of forecasting methods