PART A: Select one of the 2 options below. (9 Points)

OPTION 1: Research - Journal / Article

Research a forecasting method that was not covered in this course, such as a 3^rd order exponential smoothing or neural network trend estimation. Then share the following with the class:

Original focus or purpose of the method.

The type of data handled.

The details of the algorithm / equations.

How it performs compared to other methods with a similar focus. (If a benchmark comparison was not provided, then state it.)

Provide an example of how the method can be used in your organization.

OPTION 2: Experiential - Organizational Adoption

From your work or an organization where you have first-hand knowledge, discuss a forecast that the organization performs on a routine basis. (Do not share proprietary information or violate confidentiality.) This can be sales revenues, market share, supply and demand, material or labor costs, technology performance, etc. If your work experience did not expose you to any forecasting exercises, then research an organization or scan the journals for an appropriate article that involved a forecast. Then share with the class the following:

The purpose of the forecast.

The forecast method used (may be one that was not covered in this course). Include details of the forecasting method.

Describe the underlying data or information on which the forecast was based. (Description based on the concepts covered to date.)

The management decision that was ultimately made based on the forecast results, if known. (If is not known, then state so, and provide a plausible possibility.)

Share your opinion of the forecast method selected do you agree that it was appropriate? Why or why not?