The purpose of this paper is to introduce a new forecasting approach that involves a multicriteria scoring model, which is enhanced with regression analysis and optimization. We compare regression analysis versus our Enhanced Multicriteria Scoring Model by comparing the Error Sum of the Squares in case studies involving top selling automobiles and top Fortune 500 companies. In both the automobile and Fortune 500 case studies, our Enhanced Multicriteria Scoring was more accurate than regression analysis. In practice, our Enhanced Multicriteria Scoring Model should be compared with regression analysis, and the better of the two techniques should be used to forecast. In short, our Enhanced Multicriteria Scoring model is a “breakthrough” modeling technique that will help companies and organizations improve their forecasting.
Ko, K. (2017), "Enhanced Multicriteria Scoring Model", Advances in Business and Management Forecasting (Advances in Business and Management Forecasting, Vol. 12), Emerald Publishing Limited, pp. 19-29. https://doi.org/10.1108/S1477-407020170000012001Download as .RIS
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