How can Service Operations professionals collaborate to make more accurate forecasts?

3 Choose and apply appropriate methods and tools

The third step to collaborate on a forecast is to choose and apply appropriate methods and tools. There are many methods and tools available for forecasting, such as qualitative, quantitative, or hybrid approaches, and software, spreadsheets, or models. Service operations professionals should select and use the methods and tools that best suit the purpose and scope of the forecast, and that are easy to understand, communicate, and update. They should also agree on the assumptions, parameters, and criteria that they will use to generate and evaluate the forecast.

4 Communicate and validate the forecast

The fourth step to collaborate on a forecast is to communicate and validate the forecast. Communication is key to ensure that the forecast is clear, consistent, and credible. Service operations professionals should present and explain the forecast to each other and to the stakeholders and users, highlighting the main findings, implications, and limitations. They should also solicit and incorporate feedback, suggestions, and corrections, and verify the accuracy and relevance of the forecast. They should also document and report the forecast, and keep track of any changes or revisions.

5 Monitor and update the forecast

The fifth step to collaborate on a forecast is to monitor and update the forecast. Forecasting is not a one-time activity, but a continuous process that requires regular monitoring and updating. Service operations professionals should compare the forecast with the actual results, and analyze the deviations, errors, and trends. They should also identify and account for any new or changing factors or conditions that may affect the forecast, such as customer behavior, demand patterns, or external events. They should also adjust and refine the forecast as needed, and communicate and share the updates with each other and with the stakeholders and users.

6 Learn and improve from the forecast

The sixth and final step to collaborate on a forecast is to learn and improve from the forecast. Forecasting is also a learning opportunity, that can help service operations professionals enhance their skills, knowledge, and performance. They should review and evaluate the forecast process and outcomes, and identify the strengths, weaknesses, and areas for improvement. They should also share and discuss the lessons learned, best practices, and challenges, and seek feedback and advice from each other and from experts. They should also apply the learning and improvement to the next forecast cycle, and strive to make more accurate forecasts.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?