FVA: A Reality Check on Forecasting Practices

Mike Gilliland has long advocated the use of a forecast value added (FVA) metric to assess the effectiveness of managerial adjustments to statistical forecasts as well as other individual phases of the forecasting process. FVA has caught on in many companies as an aid in eliminating unnecessary or even harmful actions Ð something for all businesses to think about. Copyright International Institute of Forecasters, 2013