New Book: Principles of Business Forecasting

Robert Fildes and Nikos Kourentzes have formed two-thirds of the three-man team, producing the latest textbook in Forecasting.

Principles of Business Forecasting (2nd ed.) is a much-revised version of the first edition written by Keith Ord and Robert. With a number of new features, the aim is it aims to make the book an effective learning resource for students and practising forecasters but also a reference book for researchers working in forecasting.

This second edition embodies some key changes:

  • R programs and tutorial material are provided so that all analyses can be carried out (for free!) wherever the user is working. Nikos has supplied tutorial support for effective implementation of the many routines.
  • Expanded coverage of model building in regression.
  • New material on judgment to address some of the political shocks in the last few years.
  • Greater coverage of data analytics, in particular, neural nets together with software.
  • Expanded material on applications that uniquely includes new research findings relevant
  • and immediately applicable to operations, such as hierarchical modelling and temporal aggregation.

Everette S. Gardner, Jr., Professor of Decision and Information Sciences Bauer College of Business, University of Houston gives an unstinting testimonial:

“Principles of Business Forecasting is, in my opinion, the most readable book in the field, and I think I own all of them. The authors of the first edition are eminent researchers, both known for clear writing which is on display here. They have been joined in the second edition by Nikos Kourentzes who has added new ideas and R based tutorials, the aim being to make the book more widely usable in applications. Because very little background in math and statistics is required, this book should prove valuable as a reference for practical forecasters as well as a text for introductory students. One novel feature is the emphasis on evidence-based principles of forecasting rather than quantitative modelling. That is, modelling is used to support the principles. Another novel feature is the coverage of forecasting practice, from method selection to the realities of dealing with political pressures. This last topic has generally been ignored by researchers and authors alike, but it is critically important to the practical forecaster.”

Further information on the book and how to purchase can be found on the publisher's website.