OM Explorer and POM for Windows all

OM Explorer and POM for Windows allow you to evaluate several forecasting models, and then you can create combination forecasts from them. In fact, the Time-Series Forecasting Solver of OM Explorer automatically computes a combination forecast as a weighted average, using the weights that you supply for the various models that it evaluates. The models include the naïve, moving average, exponential smoothing, and regression projector methods. Alternately, you can create a simple Excel spreadsheet that combines forecasts generated by POM for Windows to create combination forecasts. The Time Series Forecasting Solver also allows you evaluate your forecasting process with a holdout sample. The forecaster makes a forecast just one period ahead, and learns of given actual demand. Next the solver computes forecasts and forecast errors for the period. The process continues to the next period in the holdout sample with the forecaster committing to a forecast for the next period. To be informed, the forecaster should also be aware of how well the other forecasting methods have been performing, particularly in the recent past.