Forecasting accuracy and the assumption of constancy

Research output: Contribution to journalArticle

20 Citations (Scopus)

Abstract

Statistical forecasting is based on the assumption of constancy, or structural ability in the data. This paper argues that such an assumption might not always be realistic in real life forecasting situations. Unfortunately, however, statisticians and forecasters tend to forget, or at least not make explicit this important assumption, thus creating false expectations which cannot be realistically fulfilled. The paper proposes a wider role for forecasting and makes specific suggestions to overcome the problems arising when the assumption of constancy does not hold.

Original languageEnglish
Pages (from-to)307-311
Number of pages5
JournalOmega
Volume9
Issue number3
DOIs
Publication statusPublished - 1 Jan 1981

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Forecasting accuracy

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Forecasting accuracy and the assumption of constancy. / Makridakis, Spyros.

In: Omega, Vol. 9, No. 3, 01.01.1981, p. 307-311.

Research output: Contribution to journalArticle

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