• Finance , Higher Level Management , Statistics ,
• 10 Mar

The Tracking Signal is a great high-level way to communicate and manage forecasting error bias. This can be really useful when using automatized or computerized forecasting systems. One way to use a tracking signal is to set up thresholds of acceptable error using color as representations of the validity of forecasting. While an actual traffic

• Finance , Higher Level Management , Statistics ,
• 13 Dec

We are going to go over eight different ways of measuring demand forecast error. We end with one of the most popular forecasting error metrics but, for better understanding, we start simple and work up to it. Keep in mind that budgeting and forecasting are a bit different. Forecasting is part of budgeting but the scope

• Corporate Strategy , Finance , Higher Level Management , Statistics ,
• 12 Dec

We go through three different types of simple forecasting. The purpose here is to introduce you to basic forecasting and budgeting techniques. You can use this to predict the demand of a product or how much of something to make. You can also use it to create budgets and more. There are a lot of

• Statistics ,
• 05 May

The coefficient of variation measures the variability around the mean using a ratio. Ratios are great because they are unit-less. In this way they are similar to Vertical Analysis of Financial statements. This means that you can take two totally different means and standard deviation sets and compare in a meaningful way because you are