Forecasting and Market Analysis Techniques: A Practical Appr

Article excerpt

George J. Kress and John Snyder. Forecasting and Market Analysis Techniques: A Practical Approach. Westport, Connecticut and London: Quorum, 1994, pp. 286.

Kress and Snyder have written a book intended for practitioners of forecasting, especially those with marketing and sales responsibilities. The book combines an analysis of basic forecasting techniques with information on what could be thought of as standard marketing topics.

There are three subjects of interest to practitioners covered: data sources, actual forecasting techniques, and the specifics of market analysis.

A small portion of the book is devoted to sources of data which aid the forecasting effort. Most sources covered are govern-ment documents and publications but techniques of data collection are also included. The collection of primary data, survey methods, experimentation, and sampling are discussed. Few examples are used and only a single reference leads the reader deeper into the data collection literature.

The approach in presenting the numerical forecasting techniques (e.g., time series analysis, exponential smoothing and causal regression) is not heavily mathematical or statistical in nature. Descriptions of the various methods are given with short examples. In most instances, the description does not include the actual calculation routines. Readers who must actually use forecasting techniques would require an extended technical explanation and an appropriate statistical package in addition to this book. …