Demand-Driven Forecasting: A Structured Approach to Forecasting (Wiley and SAS Business Series)

Demand-Driven Forecasting: A Structured Approach to Forecasting (Wiley and SAS Business Series) Summary:

  

By Charles Chase

Publisher:   Wiley

Number Of Pages:   288

Publication Date:   2009-08-10

ISBN-10 / ASIN:   0470415029

ISBN-13 / EAN:   9780470415023

Product Description: 

Praise for Demand-Driven Forecasting

A Structured Approach to Forecasting

"There are authors of advanced forecasting books who take an academic approach to explaining forecast modeling that focuses on the construction of arcane algorithms and mathematical proof that are not very useful for forecasting practitioners. Then, there are other authors who take a general approach to explaining demand planning, but gloss over technical content required of modern forecasters. Neither of these approaches is well-suited for helping business forecasters critically identify the best demand data sources, effectively apply appropriate statistical forecasting methods, and properly design efficient demand planning processes. In Demand-Driven Forecasting, Chase fills this void in the literature and provides the reader with concise explanations for advanced statistical methods and credible business advice for improving ways to predict demand for products and services. Whether you are an experienced professional forecasting manager, or a novice forecast analyst, you will find this book a valuable resource for your professional development."

—Daniel Kiely, Senior Manager, Epidemiology, Forecasting & Analytics, Celgene Corporation

"Charlie Chase has given forecasters a clear, responsible approach for ending the timeless tug of war between the need for 'forecast rigor' and the call for greater inclusion of 'client judgment.' By advancing the use of 'domain knowledge' and hypothesis testing to enrich base-case forecasts, he has empowered professional forecasters to step up and impact their companies' business results favorably and profoundly, all the while enhancing the organizational stature of forecasters broadly."

—Bob Woodard, Vice President, Global Consumer and Customer Insights, Campbell Soup Company

Summary: Leveraging analytics & domain expertise for best practices in forecasting

Rating: 4

Charlie's personal forecasting experiences bring this book to life, effectively bridging theory and practice. This book is a must-read for anyone responsible for forecasting and demand planning, regardless of industry.

Summary: Linking Forecasting Basics to Emerging Processes

Rating: 4

I just finished reading the first two chapters and it is clear that Charles has done a good job of capturing key issues and opportunities related to forecasting. In the first chapter, as I read descriptions of a forecasting myth, I would think of others, only to find them covered next. It is very helpful to read the examples and get the confirmation that these myths apply across many companies. Charles offers helpful insight on how to over come the myths. He also does an excellent job providing definitions for demand sensing and demand shaping. These are two concepts getting a lot of attention in consumer products companies and chapter 2 provides helpful perspective, examples, and definitions. While the forecasting practitioner will find entire book helpful, I recommend the first two chapters for a much broader audience of planning leaders and business leaders. The insights will lead to better understanding and support for forecasting processes. 

Summary: Balancing Theory with Practice

Rating: 4

There are authors of advanced forecasting books who take an academic approach to explaining forecast modeling. These authors focus on presenting arcane algorithms and deriving mathematical proofs that are not very useful for forecasting practitioners. Then, there are other authors who take a general approach to demand forecasting. These authors tend to gloss over technical content that is required of modern forecasters. In practice, neither of these approaches is well-suited for helping business foreasters critically identify the best demand data sources, effectively apply the appropriate statistical forecasting methods, or properly design efficient demand planning processes. In Demand-Driven Forecasitng, Chase fills this void in the literature. He provides the reader with concise explanations for advanced statistical methods and credible business advice for imporving ways to predict demand for products and services. As a veteren business forecaster, I was pleased to find a book that balances theory with practice. Whether you are an experienced professional forecasting manager, or a novice forecast anaylst, you will find this book to be a valuable resource for your professional development.

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