ABSTRACT
Today’s businesses are constantly looking for strategies to improve their financial performance. Business forecasters have played a significant role in the performance of these entrepreneurial activities by providing senior management with as accurate forecasts as possible given the dynamic nature of markets. The aim of a business forecast is to combine statistical analyses and domain knowledge (not judgment) to develop acceptable forecasts that will ultimately drive downstream business planning activities. A good business analyst or forecaster needs to focus on defining and measuring the key business indicators that impact sales and revenue, and provide senior management with business decision choices that are informed by good statistical analysis.
