Forecasting: Methods and Applications 3rd Edition

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

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ISBN-13: 978-0471532330

ISBN-10: 0471532339

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Known from its last editions as the "Bible of Forecasting", the third edition of this authoritative text has adopted a new approach-one that is as new as the latest trends in the field: "Explaining the past is not adequate for predicting the future". In other words, accurate forecasting requires more than just the fitting of models to historical data. Inside, readers will find the latest techniques used by managers in business today, discover the importance of forecasting and learn how it's accomplished. And readers will develop the necessary skills to meet the increased demand for thoughtful and realistic forecasts.

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Editorial Reviews

From the Inside Flap

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.

From the Back Cover

Item Weight : 2.45 pounds
Hardcover : 656 pages
ISBN-10 : 0471532339
ISBN-13 : 978-0471532330
Product Dimensions : 7.8 x 1 x 9.3 inches
Publisher : Wiley; 3rd Edition (December 1, 1997)
Language: : English

Best Sellers Rank: #876,961 in Books (See Top 100 in Books)
- #160 in Exports & Imports Economics
- #226 in Microeconomics (Books)
- #284 in Business Operations Research (Books)

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Code Monkey

Excellent introduction and reference for a non-specialist

Reviewed in the United States on September 28, 2014

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This is an excellent introduction to forecasting for people who who can live without lots of mathematical detail. All the key forecasting techniques are introduced with minimal mathematical overhead (basic Calculus is considered too much math for the main text). However there is enough detail for the reader to develop an intuition about why the techniques work the way that they do. The implicit assumption made throughout the book is that the reader will use statistical software that deals with the implementation details. The bibliography seems extensive enough to lead the interested reader to more rigorous explanations.

This book provides a lot of good advice about how to actually apply the mathematical techniques introduced to the real world. The chapters on long term forecasting are often startlingly insightful when read today, nearly 16 years after the book was written. Consider this quote: "At present it is not clear wheter Intel/Microsoft or Sun/Oracle/Netscape will be the winners of the race to dominate the personal computer market." The nice thing is a quote like that actually helps reinforce the message in the text about the dangers in forecasting for the long term, instead of making the book feel dated.

I'm some one who needs forecasting techniques occasionally to get other work done. As a non-specialist I feel this book is the perfect one to add to my bookshelf.

2 people found this helpful

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Alvarez

Covers the Basics on Forecasting

Reviewed in the United States on September 22, 2013

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A textbook, but clearly written, with enough applied examples to make the techniques real. The book is well laid out and the authors do a great job of telling you how to get the most out of it depending on your interests. while not a deep mathematical treatise of forecasting, there is enough depth to apply the techniques and provide an understanding of what most of the popular software programs are doing.

One person found this helpful

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Mark Ulloa

Great reference book!

Reviewed in the United States on July 5, 2006

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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.

5 people found this helpful

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Stevenm Rollins

Excellent for the Practitioner

Reviewed in the United States on December 29, 2010

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I bought this book over a year ago and have been using it weekly for that year. Yes, I have many other books on Time Series Analysis, but none are as clear and concise as this one. If you just need to know then this is the first book to pick up. It gives the basics and helps you achieve understanding.

One person found this helpful

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UserAbuser

Very good introduction

Reviewed in the United States on February 7, 2013

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It covers all the basics, is clear and concise, and has enough examples and problems to test knowledge. Whenever more information can be given, references are provided. I'm not really an expert on the latest trends in forecasting (wouldn't be reading this if I were), but I thought this pretty much covered what a beginner should know, with references for those that require more in depth knowledge.

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Amazon Customer

Ilegal to buy in USA

Reviewed in the United States on March 19, 2019

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The book is what i expected except for the fact that it is ilegal to be sold in the USA.

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Mikhail

Very useful for me, and clear enough

Reviewed in the United States on March 31, 2013

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I've just read this=) It's simple enough for those who are not specialist in computation math and statistics/probability.
You can understand general conceptions of book even if you have quite poor math skills (and poor English, like me=).

One person found this helpful

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Andrew Harrison

Great introduction to Forecasting without overwhelming mathematics

Reviewed in the United States on December 18, 2012

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I read this book prior to taking some SAS forecasting classes - it was a great preparation for my training.

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Top reviews from other countries

G. Keogh

A basic forecasting tool-kit

Reviewed in the United Kingdom on July 16, 2009

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This is an excellent book on applied time series methods at a basic level.
All methods used are in time domain. They include straightforward regression, exponential smoothing, ARIMA models and dynamic regression models popular in economics. The focus is on finding a suitable description of a time series and interpreting results.
There is a chapter on advanced methods which is a bit superfluous. The main gap in the text is spectral analysis is not covered. However, this means that the mathematics and statistics involved is relatively easy. This book is an ideal introductory text suited to business, economics and applied science students.

2 people found this helpful

voltz115

Ex-physicist-now-analyst says: Very handy!

Reviewed in the United Kingdom on February 10, 2014

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The concepts I was already familiar with are covered very well, and I find this book a helpful reminder. On less-familiar concepts I have found the text fairly clear. That being said, any clarity lost in the text is immediately rectified in worked-through example tables and figures.

My opinion - just right for statisticians/analysts of all levels of ability and interest!

Amazon Customer

Five Stars

Reviewed in the United Kingdom on July 18, 2017

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An old classic but still full of very sound advice.

Piotr Gadecki

The best book of forecasting I've ever read.

Reviewed in the United Kingdom on March 15, 2014

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This book contains everything what I need and want about forecasting. I'm from Poland, so one problem could be the language, but NO. It is written with very easy, but no simple way. There are many examples for every single equation and forcasting method. Authors show some very difficult methods and they explain they in easy way. I highly recommend this book.

One person found this helpful

F. Fruggiero

Great book

Reviewed in the United Kingdom on April 1, 2014

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A master book for forecasting. Excellent description and detailed application of methods with almost all classical approach. I greatly appreciate it.

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