International Journal of Science and Research (IJSR)

International Journal of Science and Research (IJSR)
Call for Papers | Fully Refereed | Open Access | Double Blind Peer Reviewed

ISSN: 2319-7064


Downloads: 109 | Views: 209

Research Paper | Computer Science & Engineering | Nigeria | Volume 6 Issue 3, March 2017 | Rating: 6.9 / 10


Parameters for the Evaluation and Choice of a Good Computer Based Forecasting Technique

ONU Fergus U. Ph.D | BAAH Barida [2]


Abstract: Many a time, most business organizations, industries and companies fail as a result of the choice their management made regarding things to do, and when to do them. The choices can be beneficial when correct prediction of business conditions were made. Computer-based forecasting systems present themselves as the most appropriate tools for effective prediction of business conditions. This paper critically examines the parameters for the evaluation of various computer-based forecasting techniques to determine and present suitable tools for correct prediction of business conditions to business managers. Data from primary sources were gathered with instruments in a structured questionnaire. The data was analyzed using frequency, percentage ratio and mean to determine a more positive stand on the parameters for the evaluation. The research revealed that parameters like flexibility of forecasting technique, compatibility, time period of forecast and cost benefit of the forecast were useful to determine the choice of a given forecasting technique. When good choice is made, forecasts whether in business, government, economy etcetera will be very reliable and aid well informed amd quality management decision.


Keywords: Parameters, Evaluation, Forecasting Technique, management decision, business conditions


Edition: Volume 6 Issue 3, March 2017,


Pages: 2359 - 2364


How to Download this Article?

Type Your Valid Email Address below to Receive the Article PDF Link


Verification Code will appear in 2 Seconds ... Wait

Top