dampened trend – The process of reducing the trend (slope) in a forecast over time.
Gardner (2005) and others suggest that the trend in a forecasting model should be “dampened” (reduced) for multiple period-ahead forecasts because trends tend to die out over time. Almost no trends continue forever.
dashboard – A performance measurement and reporting tool that provides a quick summary for the business unit or project status.
Ideally, a dashboard has a limited number of metrics (key performance indicators) to make it easy to comprehend and manage. The term “dashboard” is a metaphor for an automobile’s instrument panel, with a speedometer, tachometer, fuel gauge, and oil warning light. Many firms ...