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(Stevenson, 2007) If longer-term forecasts are needed other techniques such as regression analysis would be required. All three techniques are easy to understand and easy to execute and these criteria do not give any advantage to any one of the techniques. Perhaps the most important factor about these techniques is that they are averaging techniques and smoothing the fluctuations. They do not distinguish between random fluctuations and actual changes and hence, while using these techniques a trade-off needs to be made between smoothing and responsiveness. (Stevenson, 2007)
Moving Average averages a number of recent actual values...
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Common topics in this essay:
- data management
- Operations Management Principles DB 1
- Operations Management Principles DB 2
- Operations Management Principles DB 3
- Operations Management Principles DB 4
- Operations Management Principles DB 5
- Operations Management Principles IP 1
- Operations Management Principles IP 2
- Operations Management Principles IP 3
- Operations Management Principles IP 4
- Operations Management Principles IP 5
- Putting Data To Work: Intelligently Using Data Mining, Data Warehousing And Databases.
- Accuracy of Data, Data Ouytput
- Data And Knowledge Management
- Data Management
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