The Forecasting Classification Grid: a Typology for Method Selection

Abstract

Given the large variety of forecasting methods, researchers have developed different ways of classifying these methods. However, none of these methods meet the criteria of a good typology, i.e. concise, exclusive and exhaustive. Based on a review of the current classification methods, the paper proposes a forecasting classification grid based on two distinct dimensions, i.e. judgmental opinions and empirically evaluated ideas, and naive and causal forecasting. Being concise, exclusive and exhaustive, this new classification method provides a systematic way to organize different forecasting methods.

Department(s)

Business and Information Technology

Keywords and Phrases

Dynamic Predictive Models; Intuitive Forecasts; Trend Extrapolation; Coding Schemes

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2006 Journal of Global Business Management, All rights reserved.

Publication Date

01 Jan 2006

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