Which of the following is a good suggestion for improving forecasting effectiveness?
A) never compare forecasts to a "no change" scenario
B) increase the length of forecasts to improve their accuracy
C) utilize the "half-life" estimation model
D) use complex forecasting methods
E) employ multiple forecasting methods whenever possible

Question

Quizplus · Accepted Answer

By employing multiple forecasting methods, a company can reduce the risk of relying on a single method and increase the chances of obtaining a more accurate forecast. This approach helps to mitigate the limitations of any one specific model and allow for cross-validation to improve the accuracy of the forecast.

Which of the Following Is a Good Suggestion for Improving