Academic journal article The Journal of Business Forecasting Methods & Systems

MINITAB Release 11 for Windows

Academic journal article The Journal of Business Forecasting Methods & Systems

MINITAB Release 11 for Windows

Article excerpt

MINITAB is a statistical software to be used to make data analysis easier. Now in Release 11, it continues to grow with new, powerful tools for statistics, quality control, and for design of experiments. The package includes a User's Guide and a large Reference Manual.

While Minitab, Inc. does not promote MINITAB as forecasting software, its package includes numerous forecasting tools, such as: (a) time series methods (trend analysis, decomposition, moving average, single and double exponential smoothing, Winter's Method, and ARIMA), and (b) regression analysis. For many time series methods, MINITAB provides forecasters with a FORECASTS subcommand. Forecasters may use the FORECASTS subcommand to specify how many periods into the future to generate forecasts. To make forecasting time series even easier, MINITAB provides an ORIGIN subcommand to permit forecasters to specify a starting point for the forecasts. The ORIGIN subcommand permits forecasters to hold back recent data in order to test the validity of time series forecasting models.

The package includes 3 forecast accuracy measures: (1) Mean Absolute Percentage Error (MAPE), (2) Mean Absolute Deviation (MAD), and (3) Mean Squared Deviation (MSD). Its Reference Manual refers to 10 forecasting books and articles dated 1963 through 1989. …

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