11 research outputs found
Forecasting: theory and practice
Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases
Forecasting: theory and practice
Forecasting has always been in the forefront of decision making and planning.
The uncertainty that surrounds the future is both exciting and challenging,
with individuals and organisations seeking to minimise risks and maximise
utilities. The lack of a free-lunch theorem implies the need for a diverse set
of forecasting methods to tackle an array of applications. This unique article
provides a non-systematic review of the theory and the practice of forecasting.
We offer a wide range of theoretical, state-of-the-art models, methods,
principles, and approaches to prepare, produce, organise, and evaluate
forecasts. We then demonstrate how such theoretical concepts are applied in a
variety of real-life contexts, including operations, economics, finance,
energy, environment, and social good. We do not claim that this review is an
exhaustive list of methods and applications. The list was compiled based on the
expertise and interests of the authors. However, we wish that our encyclopedic
presentation will offer a point of reference for the rich work that has been
undertaken over the last decades, with some key insights for the future of the
forecasting theory and practice
Forecasting: theory and practice
Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases
Forecasting: Theory and Practice.
Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases
Forecasting: theory and practice
Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases. © 2021 The Author(s
Forecasting: theory and practice
Forecasting has always been at the forefront of decision making and planning.
The uncertainty that surrounds the future is both exciting and challenging,
with individuals and organisations seeking to minimise risks and maximise
utilities. The large number of forecasting applications calls for a diverse set
of forecasting methods to tackle real-life challenges. This article provides a
non-systematic review of the theory and the practice of forecasting. We provide
an overview of a wide range of theoretical, state-of-the-art models, methods,
principles, and approaches to prepare, produce, organise, and evaluate
forecasts. We then demonstrate how such theoretical concepts are applied in a
variety of real-life contexts.
We do not claim that this review is an exhaustive list of methods and
applications. However, we wish that our encyclopedic presentation will offer a
point of reference for the rich work that has been undertaken over the last
decades, with some key insights for the future of forecasting theory and
practice. Given its encyclopedic nature, the intended mode of reading is
non-linear. We offer cross-references to allow the readers to navigate through
the various topics. We complement the theoretical concepts and applications
covered by large lists of free or open-source software implementations and
publicly-available databases