Forecastability: A New Method for Benchmarking and Driving Improvement

The Spring 2009 issue of Foresight carried a special feature section on assessing forecastability. Articles by Peter Catt, John Boylan, and Stephan Kolassa offered valuable insights into the twin forecastability questions of (a) how successful have our forecasts been, and (b) how much improvement is still possible. Now Sean Schubert picks up the mantle and shows how to create internal benchmarks that relate the forecast accuracy to product-specific attributes, which he calls forecastability DNA. Sean’s approach can promote greater objectivity in setting forecast-accuracy targets. Copyright International Institute of Forecasters, 2012