In this episode, we host three scientists, Dr. Stephan Kolassa, Dr. Bahman Rostami-Tabar, and Prof. Enno Siemsen. They are the authors of "Demand Forecasting for Executives and Professionals." In this episode, we delve into discussions about their book.
We discuss their motivations for writing this unique guide for professionals and the need for such a book. We explore the pivotal role of forecasting in business decisions and unpack key principles and methodologies. Our conversation navigates through causal models, stressing the importance of understanding the forecasting process. We highlight the profound impact of AI, machine learning, and human judgment in forecasting, considering cognitive biases and the potential of large language models.
The interview continues with discussions about the integration of demand forecasting in organizations, noting ethical considerations, reasons behind forecasting failures, and common hurdles encountered in evaluating forecast quality. We conclude by providing resource recommendations for further exploration of the topic and advice for executives eager to enhance their demand forecasting skills.
You can learn more about their book at https://dfep.netlify.app/ and order at https://www.routledge.com/Demand-Forecasting-for-Executives-and-Professionals/Kolassa-Rostami-Tabar-Siemsen/p/book/9781032507729.