Judgmental forecasting with interactive forecasting support systems
With an increasing use of DSS/EIS, managers are often required to process information coming from a variety of sources in making a final decision. However, we have little understanding of the efficiency with which people select and use the multiple pieces of information. This issue was examined under various conditions using a DSS in a forecasting task where multiple items of information were displayed on request in an interactive manner. Results indicate that overall people underacquired information. Moreover, people often selected less-reliable information. This sub-optimal behaviour did not diminish over time (it became worse). But an aggregation DSS was helpful at the task. This suggests that people seemed to have a problem in aggregating multiple pieces of information. It was also found that the independent preparation of an initial forecast improved forecast accuracy significantly. Perhaps, forecasters may prepare the initial forecast independently and use decision aids for the subsequent tasks of the forecasting process.
judgmental forecasting forecasting support systems information acquisition and utilisation