Forecasting: Methods and Applications [Hardcover]

Spyros G. Makridakis (Author), Steven C. Wheelwright (Author), Rob J Hyndman (Author)

Book Description

Publication Date: December 1997 | ISBN-10: 0471532339 | ISBN-13: 978-0471532330 | Edition: 3

Can You Predict the Future by Looking at the Past? Since accurate forecasting requires more than just inserting historical data into a model, Forecasting: Methods and Applications, 3/e, adopts a managerial, business orientation. Integrated throughout this text is the innovative idea that explaining the past is not adequate for predicting the future. Inside, you will find the latest techniques used by managers in business today, discover the importance of forecasting and learn how it's accomplished. And you'll develop the necessary skills to meet the increased demand for thoughtful and realistic forecasts. New features in the third edition include:
* An emphasis placed on the practical uses of forecasting.
* All data sets used in this book are available on the Internet, together with supplementary material.  This can be found at http://robjhyndman.com/forecasting/
* Comprehensive coverage provided on both quantitative and qualitative forecasting techniques.
* Includes many new developments in forecasting methodology and practice.

Editorial Reviews

From the Publisher

Presents a wide range of forecasting methods useful for undergraduate or graduate students majoring in business management, economics, or engineering. Develops skills for selecting the proper methodology. Integrates forecasting with the planning and decision-making activities within an organization. Methods of forecasting include: decomposition, regression analysis, and econometrics. Stresses the strengths and weaknesses of the individual methods in various types of organizational areas. Numerous examples are included. --This text refers to an out of print or unavailable edition of this title.

From the Back Cover

Can You Predict the Future by Looking at the Past? Since accurate forecasting requires more than just inserting historical data into a model, Forecasting: Methods and Applications, 3/e, adopts a managerial, business orientation. Integrated throughout this text is the innovative idea that explaining the past is not adequate for predicting the future. Inside, you will find the latest techniques used by managers in business today, discover the importance of forecasting and learn how it's accomplished. And you'll develop the necessary skills to meet the increased demand for thoughtful and realistic forecasts. New features in the third edition include:
* An emphasis placed on the practical uses of forecasting.
* All data sets used in this book are available on the Internet.
* Comprehensive coverage provided on both quantitative and qualitative forecasting techniques.
* Includes many new developments in forecasting methodology and practice.

Product Details

• Hardcover: 656 pages
• Publisher: Wiley; 3 edition (December 1997)
• Language: English
• ISBN-10: 0471532339
• ISBN-13: 978-0471532330
• Product Dimensions: 7.8 x 1.2 x 9.2 inches
• Shipping Weight: 2.6 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (17 customer reviews)
• Amazon Best Sellers Rank: #187,752 in Books (See Top 100 in Books)
  • #76 in Books > Business & Investing > Management & Leadership > Planning & Forecasting
  • #90 in Books > Business & Investing > Management & Leadership > Operations Research

Most Helpful Customer Reviews

25 of 25 people found the following review helpful

5.0 out of 5 stars Excellent book written with the practitioner in mind April 29, 1998

By Jean Louis Piraux

Format:Hardcover

Excellent book written with the practitioner in mind. Mathematical formalism kept to a minimum. The last 4 chapters (about judgmental forecasting and practical aspects of forecasting) are a plus vs. other books.

23 of 23 people found the following review helpful

5.0 out of 5 stars Down to earth, practical guide on forecasting. December 13, 2003

By Frederic Horst

Format:Hardcover

The book provides coverage of three important areas:

- Basic forecasting tools and methods - summarizing data, statistical tools, regression, as well as some material on more advanced forecasting methods
- Data preparation - time series decomposition, smoothing methods
- A discussion of the issues involved in forecasting - long term versus short term forecasting, accuracy of forecasts, the importance and limitations of judgmental forecasts and combining these with statistical forecasts

I was fortunate enough to stumble across this book in a colleagues office and believe this book should belong in every market research professional's shelf.

24 of 27 people found the following review helpful

4.0 out of 5 stars Excellent Examples and Practical Approach March 23, 2000

By A Customer

Format:Hardcover

This book was not only recommended, but given to me as a MUST READ at work. Excellent practical approach to the theory with a minimum of formulation. Good practical examples and demos. I recommend it as a training manual for new analysts on the job.

9 of 10 people found the following review helpful

5.0 out of 5 stars This book has the formulas. March 12, 2004

By tones15327

Format:Hardcover|Amazon Verified Purchase

Chapters 3 and 4, and on covered the vital information that is useful for inventory system forecasting at the SKU level, and for measuring the accuracy of the forecasts. This book was extremely helpful in that regard. Highly recommended.

3 of 3 people found the following review helpful

5.0 out of 5 stars Great reference book! July 5, 2006

By Mauricio

Format:Hardcover|Amazon Verified Purchase

I've been in the field for a few years now and I finally found a book that explains and summarizes the forecasting theory so good. This is my reference book now. I use it to teach my engineers in the subject and for personal reference as well. It provides new information that wasn't available 10 years ago. The explanaitions are good and the examples clear.

2 of 2 people found the following review helpful

5.0 out of 5 stars Bible of Forecasting! October 29, 2008

By Reader

Format:Hardcover

Compared with many other forecasting books, I still believe this is the Bible of Forecasting.

2 of 2 people found the following review helpful

5.0 out of 5 stars Excellent book December 19, 2007

By RobertK

Format:Hardcover

If you begin a journey of analyzing time series this is the book for you. Excellent book for every student - you must have and read it. I highly recommend, not to mentioned the fact that at the Web site of Prof. Rob J Hyndman are the data and "forecasting bundle of R packages provides new forecasting methods, and graphical tools for displaying and analysing forecasts" methods explain in that book.

8 of 11 people found the following review helpful

5.0 out of 5 stars DecisionPro Users must have! March 2, 2005

By Vito Perez

Format:Hardcover

Was referred to this book while evaluating several software packages for forecasting and this really helped us make the right decision. We decided on Vanguard Software DecisionPro as it supports all the methods (many of which I had no idea existed) that are outlines in this book. This book (and the software) are great. This is a great add-on for anyone doing forecasting!