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May 29, 2014 at 06:00 PM

Best way to know correct forecast model - process chain set up with multiple forecast models


Hi Experts,

I need your help in selecting best forecast model for our company. We have some of the models already used for our company, and because of multiple models used it is taking very long time for process chain to finish. There is no existing documentation available on which model was used why initially. Please help me to make out forecasting process smooth.

- What is the best way to know, which forecast model is correct and should be used for our forecasting process.

- In case multiple forecasting models are really required to be used, please suggest ways to optimally schedule them in process chain.

- At times we get messages like "not enough data available" for specific model - any way to avoid this.

- How to optimally use parallel processing profiles forecasting process in process chain.

- Things which should be avoided.

Request your help, please share your experiences.