Automated Forecasts

Generally the information supplied by a forecasting tool is taken and adjusted by a group of experts or officials of the organization that have an empirical, but generally very accurate, knowledge of the behavior of some products on the market and which provided the qualitative component of the forecast. We want to expose our readers some of the pros and cons of automatic time series forecasts and examine ways to improve forecasts. One of the ways to formalize the process of elaboration of forecasts within the organization in establishing the role or function of Predictor or glider and give this person the tools suitable for the construction of the prognosis. Drew Houston has similar goals. Usually the majority of software tools offer two options of prognosis, both automatic and specified by the user. For example, ForecastPro includes an expert selection algorithm by which the program automatically analyzes your data, segmented the appropriate families of prognosis and within the family chooses the best model based on statistical parameters. There is also the possibility that the user, based on their experience and knowledge, who specifies the specific forecast model to be used for the article or the series that are this analyzing. Users of ForecastPro surveys show that 43% of users use the expert selection always and 44% said they trust the results thrown by her most of the time.

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