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Emphasis on the accuracy of our forecast

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Reference no: EM132866239

When performing forecasts, we usually put too much emphasis on the accuracy of our forecast. Accuracy is desirable, but is outside of our control because the future is unpredictable. We should focus on using reliable data and adequate methods in order to produce defensible predictions.

Even if your forecasts are off, but you can back these up with reliable data and methods, you have done your job as a data scientist, regardless of the outcome.

Will forecasts based on proper data and methods lead to defensible decisions?

Reference no: EM132866239

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