A first approach to e‐forecasting: a survey of forecasting Web services

Abstract

A great challenge for today’s companies is not only how to adapt to the changing business environment but also how to gain a competitive advantage from the way in which they choose to do so. As a basis for achieving such advantages, companies have started to seek to improve the performance of various operations. Forecasting is one of them; it is important to firms because it can help ensure that effective use of resources is made. In the market there are a number of off‐the‐shelf system products, which provide forecasts. The new trend, of moving traditional software packages to Web services, has pushed forecasting to a new dimension, named by the authors as “e‐forecasting”. In this paper, a first approach to e‐forecasting is made by throwing light on several aspects and a survey is presented which aims at identifying existing Web forecasting services.