6.1 Concepts of Forecasting
The old Manpower planning functions were masters at telling managers what they already were aware of—in other words, they were flooded with retrospective information. This data unprocessed, has very little if any use at all, but consumes management time in trying to understand it. We now have very good predictive software and it’s this significant difference that will help us to transform retrospective data to meaningful and valuable information which will aid efficiency, give competitive edge, and also improve organizational efficiency.
Good news for workforce planners—you will (somewhere) have most of the data you need to do predictive forecasting. The bad news, some of it may ...
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