Sales Forecasting, Market Research and the Value of Information

Abstract

Forecasting experts are not always sufficiently knowledgeable about the way their forecasts are used by managers. Consequently there is a tendency for them to focus excessively on forecast accuracy instead of decision usefulness. This article draws on modern information theory to provide some insights into the problem of identifying relevance and recognising value for money in market research and sales forecasts.

Citation

Barron, M. and Targett, D. (1986), "Sales Forecasting, Market Research and the Value of Information", Marketing Intelligence & Planning, Vol. 4 No. 3, pp. 12-31. https://doi.org/10.1108/eb045729