Reducing Bias in Hierarchical Forecasting

This paper presents a mathematical programming model to reduce bias for both aggregate demand forecasts and lower echelon forecasts comprising a hierarchical forecasting system. Demand data from an actual service operation are used to illustrate the model and compare its accuracy with a standard approach for hierarchical forecasting. Results show that the proposed methodology outperforms the standard approach.

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Year of publication:	2014
Authors:	Utley, Joanne
Published in:	Advances in business and management forecasting.. - Bingley, U.K. : Emerald, ISBN 978-1-78441-208-1. - 2014, p. 131-141
Subject:	Prognoseverfahren \| Forecasting model \| Systematischer Fehler \| Bias \| Mehrebenenanalyse \| Multi-level analysis

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Type of publication:	Article
Language:	English
Other identifiers:	10.1108/S1477-407020140000010019 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

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