FORECASTING (Adaptive)
Charles François (2004). FORECASTING (Adaptive), International Encyclopedia of Systems and Cybernetics, 2(1): 1312.
| Collection | International Encyclopedia of Systems and Cybernetics |
|---|---|
| Year | 2004 |
| Vol. (num.) | 2(1) |
| ID | ◀ 1312 ▶ |
| Object type | General information |
St. BEER writes that adaptive forecasting “…is like radar locating events in time instead of space” (1968, p.228)
Forecasts obviously must be permanently revised and adapted, since new information frequently becomes available. The usefulness of non-adaptive forecasting dwindles rapidly as time goes. This explains why so many appearently well conceived projects end up so wide off the mark.