Principles of Business Forecasting: Review of the 2nd Edition

In reviewing this second edition of a well-known book, Kolassa reports it "retains the coverage of fundamental forecasting methodologies, including time-series decomposition, exponential smoothing, ARIMA, the Box- Jenkins method, regression methods, and judgmental forecasting. But it goes well beyond this by including material that is rarely seen in business forecasting textbooks, such as state space models, data analytics, hierarchical modeling, including temporal aggregation, and- something I particular like-the practical, organizational, and political aspects of forecasting." He also notes the changes from the first edition and makes a few suggestions for further improvements, while concluding it is "a perfect mix of explanation, theoretical background, practical illustrations, minicases, exercises, stimulating discussion questions, and the 'forecasting principles' that succinctly summarize each chapter" and enthusiastically recommends it to professionals and students alike. Copyright International Institute of Forecasters, 2018