There are quite a number of statistical/econometric softwares with a wide variety of usability and applications in forecasting and economic decision making cum problem solving:
• Stata
• Eviews
• LimDep specifically for limited dependent and probability models
• PcGive
• Microfit
• SPSS
• DAD for Distributive Analysis
They all have the capability to analyze linear and nonlinear regression models, ANOVA, MANOVA, Chi-square, Descriptive Statistics, time series and simultaneous equation
Models, financial and risk models.
Front-line Target Disciplines: Economics, finance, business management, statistics and allied sciences.

For Training, Research Support and Consultancy Services
Contact: Kingsley@ Resource Centre Nigeria
08063944177, 08127881487
ukwuomakk@yahoo.com

Clearly, the better management’s ability to predict future internal and external environmental condition in a particular situation the better its chances of formulation attainable plans. In fact, early management writer like Henri Fayol considered predicting the future and planning accordingly to be the very essence of management. In his view, all organizational plans were an amalgamation of several forecasts.
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PROCEDURES FOR EVALUATING FORECAST



i. After the forecasted event has happened or not happened, the accuracy of the forecast to those who may have acted upon it should be appraised.



ii. Between the time the forecast is released and the time of the forecast events, an interim review should be made to determine whether or not to revise, the forecast.



iii. While the forecast is being prepared or just prior to its release, an evaluation of its quality should be made in full recognition that important and perhaps costly decision might be based upon it.
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