BRIDGING THE GAP BETWEEN THEORY AND PRACTICE IN FORECASTING

The successful implementation of forecasting in many organizations is hampered by gaps in communication and understanding between forecast preparers and forecast users. Different individuals in organizations may have varying political agendas which impact the forecasting process. Advances in forecasting can be limited because of the gap between forecasting theorists and practitioners. This paper discusses these issues. In particular, it reports on a series of roundtable discussions on the gap between theory and practice which took place at the 1991 International Symposium on Forecasting. The paper includes suggestions on ways to bridge the gap.