ABSTRACT
This chapter discusses the Akaike Information Criteria-based selection techniques to choose between multiple econometric models based on their performance. Econometric techniques can examine a time-series phenomenon with the primary objective of forecasting in the future period and so most econometric models are exploratory. Every software product created by an IT vendor is prone to vulnerabilities that reside in its software codes and programs. Attackers can exploit these weaknesses and inflict severe financial, reputation, and social damage to the users of the concerned software products. As technology is advancing every day, physical inputs are being replaced by virtual ones, and entire IT applications are being virtualized. Cloud-based office productivity suites based on Software-as-a-Service design are enabling faster business for organizations. Econometric forecasting has long been used in financial and economic planning, to enable the organization with enough information to manage unexpected business changes and events.
