Building and operating a forecasting model: the regression analysis approach

Abstract

Describes a procedure of constructing a model using the regression equation approach and states there are many pitfalls that the innocent forecaster must look out for, if he/she is to construct a successful forecasting model using the regression analysis approach. Proposes that models for sales forecasting may be divided into two categories – naïve and econometric, but that these approaches to forecasting are not always independent. Posits that development of a forecasting model may involve both the naïve and econometric approaches.

Citation

Hirst, M. (1970), "Building and operating a forecasting model: the regression analysis approach", European Journal of Marketing, Vol. 4 No. 3, pp. 121-125. https://doi.org/10.1108/EUM0000000005189