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This guide covers essential learning objectives for forecasting demand in service-oriented sectors. Key skills include recommending appropriate forecasting models tailored to specific situations and conducting a Delphi forecasting exercise for predictive insights. Participants will learn about exponential smoothing's unique features and how to apply time series forecasting techniques effectively, incorporating both trend and seasonal adjustments. An illustrative example includes a Delphi assessment predicting the timeline for a woman becoming President of the United States, alongside methodologies applicable in the nuclear power industry using historical analogies.
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Learning Objectives • Recommend the appropriate forecasting model for a given situation. • Conduct a Delphi forecasting exercise. • Describe the features of exponential smoothing. • Conduct time series forecasting using exponential smoothing with trend and seasonal adjustments.
Delphi Forecasting ExerciseIn what future election will a woman become President of the United States?
