Forecasting: which type is for you?

Abstract

Planning--one of the most important functions of laboratory management--cannot be done efficiently without forecasts of external and internal conditions that affect the laboratory. The successful Delphi Method for external forecasting of technological events is discussed. The internal forecasting methods covered in this report include judge and jury methods, time series analysis, and regression models. A brief description of each of these methods is presented along with information on accuracy, typical applications, costs, and references that provide the details of how to perform the forecasts.