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Can anybody give me idea about forecasting methods? Means we have some default methods in webfocus but i don't know which method is best? and why? If any example then please help me........
Posts: 30 | Location: India | Registered: February 23, 2005
Thanks for reply. here i give u some idea. I have five year (month,quarter and year wise) sales data and now i want to forecast about how much sales next year. I know how to generated report and all this things but my question is here we have some methods in forecasting like moving average,Exponential average, Double Exponential average, Linear regression etc. so which method i will use so i will get best forecasting report..
Posts: 30 | Location: India | Registered: February 23, 2005
Forecasting is very much down to what the user wants to see. WebFocus has a section in the online help system that you can access via devstudio �Calculating Trends and Predicting Values With FORECAST�. It is also in Wflangref.pdf page 5-21 (you�ll find the doc in the bin directory of your Devstudio installation Which technique is best for your case really should be put to the users. The best idea would be to prepare multiple versions of the report and let them choose because each of the methods described returns a different answer.
IB specifically state �FORECAST performs the calculations based on the data provided, but decisions about their use and reliability are the user's responsibility. Therefore, FORECAST predictions are not always reliable, and many factors determine how accurate a prediction will be� in the documentation.
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