After completing this chapter, you should be able to:
- Explain the importance of forecasting in organizations.
- Describe the three major approaches to forecasting.
- Use a variety of techniques to make forecasts.
- Measure the accuracy of a forecast over time using various methods.
- Determine when a forecast can be improved.
- Discuss the main considerations in selecting a forecasting technique.
- Utilize Excel to solve various forecasting problems.