Operational Effectiveness & Real-Time Modules

Develop a deep understanding of Real-Time and establish key operating principles to be better prepared prior to the day, more effective on-the-day and capture understanding and learning.

Published on 11 January 2019

Measures of Success in Forecasting

The setting of an arbitrary blanket target of say +/-5% forecast accuracy highlights that an organisation does not truly understand the nature of forecasting. Explore the key responsibilities of forecasting and how to take a holistic view when setting measures of success. Learning outcomes include:
- What does good look like? Explore the key characteristics of an ideal forecast and key considerations to develop understanding and learning.
- Define your purpose. Understand how forecasting can support your business strategy and impact it can have on customers and colleagues.
- Creating the right measures. Understand different perspectives and develop a holistic framework of success measures.