How to integrate management judgment with statistical forecasts

Many of us make judgmental adjustments to statistical forecasts. But do these improve accuracy? Paul Goodwin explains when you should avoid the temptation to adjust and shows how the accuracy of your interventions can be improved. Copyright International Institute of Forecasters, 2005

[1]  Marcus O'Connor,et al.  Forecasting support systems for the incorporation of event information: An empirical investigation , 2005 .

[2]  Paul Goodwin,et al.  Correct or combine? Mechanically integrating judgmental forecasts with statistical methods , 2000 .

[3]  George Wright,et al.  The impact of task characteristics on the performance of structured group forecasting techniques , 1996 .

[4]  A. Tversky,et al.  Judgment under Uncertainty: Heuristics and Biases , 1974, Science.

[5]  Brian P. Mathews,et al.  Judgemental revision of sales forecasts: Effectiveness of forecast selection , 1990 .

[6]  P. Todd,et al.  Simple Heuristics That Make Us Smart , 1999 .

[7]  J. Armstrong,et al.  Findings from Evidence-Based Forecasting: Methods for Reducing Forecast Error , 2006 .

[8]  Michael R. Donihue Evaluating the role judgment plays in forecast accuracy , 1993 .

[9]  Peter J. Danaher,et al.  Principles of forecasting , 2001 .

[10]  Stephen K. McNees The role of judgment in macroeconomic forecasting accuracy , 1990 .

[11]  J. Armstrong,et al.  PRINCIPLES OF FORECASTING 1 Principles of Forecasting : A Handbook for Researchers and Practitioners , 2006 .

[12]  P. Goodwin Improving the voluntary integration of statistical forecasts and judgment , 2000 .

[13]  Larry P. Ritzman,et al.  The need for contextual and technical knowledge in judgmental forecasting , 1992 .

[14]  M. O'Connor,et al.  Judgemental adjustment of initial forecasts: Its effectiveness and biases , 1995 .

[15]  Robert C. Blattberg,et al.  Database Models And Managerial Intuition: 50% Model + 50% Manager , 1990 .

[16]  Nigel Harvey,et al.  Why Are Judgments Less Consistent in Less Predictable Task Situations , 1995 .

[17]  William Remus,et al.  Judgemental forecasting in times of change , 1993 .

[18]  Spyros Makridakis,et al.  Factors affecting judgmental forecasts and confidence intervals , 1989 .