How to Choose a Forecasting Package
Most forecasting software packages operate in three different modes: automatic, semi-automatic, and manual.
Automatic mode allows the user to enter or import data and asks the program to "analyze" it. Considering various diagnostic tests, the software responds with a "recommended" statistical methodology that should give the "best" forecast. If the user concurs with the recommendation, the program will then make forecast plots. The user can manually override the recommended procedures if necessary.
Semi-automatic mode requires the user to enter the data and choose an appropriate statistical model from a list. This approach is for the analytically oriented and experienced user.
Manual forecasting mode is completely user-driven. The user must specify both the method and the parameters, and will have to execute numerous "runs" and eventually will have to choose the "optimal" parameters after he or she is satisfied.
Source: Forecasting Software Survey, by Jack Yurkiewicz.
Ask Yourself These Questions to Make the Right Choice:
| 1. | Can you customize the system for your market and needs — in terms of facts, periods, product and customer levels, etc.? |
| 2. | Does the system allow you to store and analyze different forecasts through the year? |
| 3. | How flexible and helpful are the graphics? |
| 4. | Does the system give you forecasting accuracy analysis? |
| 5. | How user-friendly is the system? How much online help is available? |
| 6. | Can the system take you beyond volume-based forecasting to overall customer account planning? |
| 7. | Does the system allow you to capture qualitative information? |
| 8. | Can the system work over the Web? |
| 9. | Can the system run in a true network environment? |
| 10. | Does the system have any options that analyze forecasts and warn forecasters of risks identified versus previous sales history? |
Visit Data Perceptions for more information.
| Forecasting Vendor List | |
| ALT-C Systems Inc.
www.alt-c.com |
Aptech Systems, Inc.
www.aptech.com |
| Automatic Forecasting Systems
www.autobox.com |
AZAP
www.azap.net |
| Business Forecast Systems, Inc.
www.forecastpro.com |
Delphus, Inc.
www.delphus.com |
| Logility
www.logility.com |
Logistics Planning Associates, LLC
www.psiplanner.com |
| Minitab Inc.
www.minitab.com |
MJC2 Limited
www.mjc2.com |
| NCSS Software
www.ncss.com |
Quantitative Micro Software
www.eviews.com |
| Rhythm Technology, Inc.
www.RiskDetective.com |
Roadmap Technologies
www.roadmap-tech.com |
| SAS Institute Inc.
www.sas.com |
Smart Software, Inc.
www.smartcorp.com |
| SPSS
www.spss.com |
StatSoft, Inc.
www.statsoft.com |
| Steven R. Gould
openforecast.stevengould.org |
User Solutions, Inc.
www.usersolutions.com |
| Vanguard Software Corp.
www.vanguardsw.com |
Wright Williams & Kelly
www.wwk.com |
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The list of forecasting software vendors was compiled by OR/MS Today magazine, as part of its 2003 Forecasting Software Survey. Click here for the complete software survey.
