Prominent features of the historical data can then be incorporated into statistical models. The statistical model is then used to provide forecasts under a range of possible scenarios. This gives organisations greater flexibility and reliability in planning. In addition to modelling historical data to obtain forecasts, Data Analysis Australia has had extensive experience in incorporating subjective factors into forecasting models. This is achieved through consultation with expert panels and stakeholders.
Subjective information is intrinsic to the development of complex modelling systems.
The forecasting of economic variables using time series models, providing clients with valuable information upon which informed decisions were made.