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copaceticM to forecastingEnglish · 1 year ago

You don’t need to worry about which distribution to use any more

riskacademy.blog

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You don’t need to worry about which distribution to use any more

riskacademy.blog

copaceticM to forecastingEnglish · 1 year ago
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You don’t need to worry about which distribution to use any more RISK-ACADEMY Blog
riskacademy.blog
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Let's face it - one of the biggest excuses risk managers use to avoid quantitative analysis is the paralysis that comes from choosing the "right" probability distribution. The selection options in ModelRisk can make your head spin: Overwhelming, right? And that's just one tool. The @RISK plugin also has over 90 distribution functions! It's like being…
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Forecasting is the process of making predictions based on past and present data. Any decision we make is based on a prediction what will happen. Here we study and discuss how to do that well.

Related community: !predictions@lemmy.ca

Forecasting can be about economics, marketing, products, finance, technology, policies, demographics, energy, climate, crime, politics, or whatever.

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