Last Updated 22 Jun 2020

For management cost

Category management
Essay type Research
Words 449 (1 page)
Views 224

In this unit we have discussed planning for the future, and have specifically focused on forecasting for business. However, forecasting Is used in a variety of other fields too, Including but not Limited to Criminal Justice and Pharmaceuticals. While these fields are different from what has been presented so far in this unit, there are some valuable lessons about forecasting here that can be applied to the field of business. Please review the following videos. Then, prepare your Discussion Board responses in accordance with the instructions found below.

Click here to watch a Newsweek interview with Carolyn Zapper, an FBI investigator and crime analyst, discussing the process of Identifying a series and forecasting future activity. Click here to watch another Interview segment with Carolyn Zapper, In which she discusses data Integrity and the necessity of accountability. Draw from the above materials and your personal and professional experiences to answer the questions below on the Threaded Discussion. Remember that this is a discussion, so keep your responses succinct and o the point. Respond to at least two of your colleagues.

Now that you have read the articles, please post a substantive response to the following parts of this unit 3 Discussion: A. In the first segment, Zapper describes a process In which a series Is developed and a forecast is developed. How is this process similar to the forecasting process that has been discussed in this unit? How is it different? B. In the second segment regarding data integrity, Zapper says that, "auditing for accuracy is extremely important. " Does this statement apply to business forecasting? What would be the advantages and disadvantages of data auditing?

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How would these advantages and disadvantages affect stakeholders In the organization? Hey everyone, A. The process described by Zapper is similar in that data is collected with the aim to observe a pattern that may prove helpful in forecasting which would ultimately guide future decisions. However, the forecasting process Is different because the Information that Is utilized In cost estimation Is quantitative, whereas a lot of the crime investigations attempt to distinguish a pattern in the quality and reasoning in he act, rather than Just the numbers of crimes in an area (such as in catching a specific perpetrator).

B. Savor's statement that "auditing for accuracy is extremely important" rings true for any piece of information that is used to guide future decision making, including business forecasting- as zapper states, "garbage in, garbage out. " The advantages of data auditing are ensuring that the data you are actually using is correct, in other words, data auditing assists to help forecasts become more accurate. The weakness of data auditing includes utilization of resources, which may at times, be very expensive.

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