Business Professionals View of Forecast Teaching in Marketing Departments

The purpose of this research is to report the results of a study on forecasting technique usefulness and satisfaction. The objectives are to: (1) help business forecasters evaluate currently available forecasting techniques, thereby, improving accuracy, (2) foster application oriented forecasting research, and (3) help marketing educators develop curricula based on forecasting techniques used in industry. Based on literature, a questionnaire was developed and sent to a mixed-mode sample of U.S. and international forecasting practitioners in various industries. The results show that the most useful forecasting techniques include moving averages, linear regression trends, combining forecasts, and simple exponential smoothing. Implications for managers are presented. Marketing educators are urged to teach forecasting techniques forecasters find useful. Suggestions for future research are presented.