IDEAS home Printed from
   My bibliography  Save this article

Can We Obtain Valid Benchmarks from Published Surveys of Forecast Accuracy?


  • Stephen Kolassa


Organizations often seek benchmarks to judge the success of their forecasts. Reliable benchmarks would allow the company or agency to see if it has improved upon industry standards and to evaluate whether investment of additional resources in forecasting would be money well spent. But can the existing benchmark surveys be trusted? "No," says Stephan Kolassa, who has analyzed the surveys and found them seriously deficient. In this article Stephan explains the many problems that plague benchmark surveys and advises that companies should redirect their search from external to internal benchmarks since the latter provide a better representation of the processes and targets the company has in place. Copyright International Institute of Forecasters, 2008

Suggested Citation

  • Stephen Kolassa, 2008. "Can We Obtain Valid Benchmarks from Published Surveys of Forecast Accuracy?," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 11, pages 6-14, Fall.
  • Handle: RePEc:for:ijafaa:y:2008:i:11:p:6-14

    Download full text from publisher

    File URL:
    Download Restriction: no


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Robert Rieg, 2010. "Do forecasts improve over time?: A case study of the accuracy of sales forecasting at a German car manufacturer," International Journal of Accounting and Information Management, Emerald Group Publishing, vol. 18(3), pages 220-236, September.
    2. Emilian Dobrescu, 2014. "Attempting to Quantify the Accuracy of Complex Macroeconomic Forecasts," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-21, December.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:for:ijafaa:y:2008:i:11:p:6-14. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Pamela Stroud). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.