What is the industry standard for economic trending and forecasting information? Our company would like to be able to forecast out several quarters.

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Chivy: could you be a little more specific?
Jr2inla: Sure...I have a lot of info about what we're doing right now (increasing our advertising cost and what we expect to gain in return - for ex) I also have information on how our revenue/cost/profit trended over the last couple of years (dips during the Holidays - rises in January) But outside of the that and some plans for new products - I don't have any information on external factors, economic predictions in the over the next year. Unemployment - overall economic health in the US.

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November 20, 2007

Posted by Chivy

4 stars ( 2 ratings )

Perfect! The first thing you have to do, is to get the historical data of the variables you´d like to forecast. You will need econometric software such as E-views (I think old versions of it are free online) which has enough tools to analyze the information you need (there are others but I personally prefer E-views). It might be a little complicated but I think that with help manuals you will be ok. The procedure in this software, although is more or less the same in all of them, is as follows:
1) Data entry
2) Model time series
3)Forecast
Anyway, if you know any economists ask them for help, they sure know how to do it.
Theese are some reliable links to get the series:
www.shadowstats.com
www.census.gov
www.economagic.com
www.bea.gov
And this is the link to get the software:
http://www.eviews.com/
If there´s anything I can help, just write your e-mail and I will contact you

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What is the industry standard for economic trending and forecasting information? Our company would like to be able to forecast out several quarters.

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