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4 Cards in this Set
- Front
- Back
Which department to take responsibility for forecasting?
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1. User department
2. management services 3. data processing unit |
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Knowledge manager needs to have to be effective part of process:
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a. being aware of the range of techniques available
b. Incorporating forecasts into mgmt services c. Knowing what is likely to go wrong |
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Gwilym Jenkins suggested guidelines for developing forecasting system:
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1. Analyze decision-making systems served by forecasts
2. Define what forecasts are needed 3. Develop a concept model of forecasting method 4. Determine the data available 5. Develop method by which forecasts are to be made 6.Test method's accuracy 7. Incorporate judgements in forecasts 8.Implement system 9.Monitor performance |
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How to assess accuracy of techniques?
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1. mean absolute deviation
2. Mean square error |