Inappropriate Forecasting, Improvement In Forecasting

Inappropriate Forecasting
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Inappropriate Forecasting
Forecasting cannot be accurate as we would like them to be, there are several reasons why inappropriate forecasting occurs. The main problem is the forecasting process is when there are biases and personal agendas. Those in authority or given the responsibility can influence the process for their benefit (Lowe & Tinker, 2015). For example, a sales representative can try to lower the expectation at the quota setting time to get easier to beat quota. In some cases, a product manager with a new idea can forecast sales to be higher for approval purposes. In most cases, unrealistic forecasting can result to inappropriate forecasting(Lowe & Tinker, 2015).
Unreachable goals, make people manipulate the process of forecasting to achieve the required results. If a company, wishes to forecast based on a particular product it has to review the stages of the product lifecycle (Lamy, 2013). Even though analogy approaches can be used for, f...