discuss the strategic importance of forecasting for Disney and demonstrate how Disney World systematically uses the first seven steps in the forecasting process to initiate, design and implement forecasting systems ●●●●For Disney World, there are six main parks. A forecast of daily attendance at each is the main number thatdetermines labour, maintenance, and scheduling.Disney develops daily, weekly, monthly, annual, and 5-year forecasts.At Disney, forecasts are reviewed daily at the highest levels to make sure that the model, assumptions, anddata are valid.Disney uses a variety of statistical models including moving averages, econometrics, and regression analysis.It also employs judgmental, or nonquantitative models.Disney uses park attendance forecasts to drive decisions about staffing, opening times, ride availability, andfood supplies.Disney's forecasting team employs 35 analysts and 70 field personnel to survey 1 million people/businessevery year.Disney uses a firm called Global Insights for travel industry forecasts and gathers data on exchange rates,arrivals into the U.S., airline specials, Wall Street trends, and school vacation schedules.At Disney, Error measures are applied; then the forecasts are used to schedule personnel down to 15- minuteintervals.3

Forecasting plays a crucial role in the strategic planning and decision-making processes of…

discuss the strategic importance of forecasting for Disney and demonstrate how Disney World systematically uses the first seven steps in the forecasting process to initiate, design and implement forecasting systems

discuss the strategic importance of forecasting for Disney and demonstrate how Disney World systematically uses the first seven steps in the forecasting process to initiate, design and implement forecasting systems

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

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●
●
●
For Disney World, there are six main parks. A forecast of daily attendance at each is the main number that
determines labour, maintenance, and scheduling.
Disney develops daily, weekly, monthly, annual, and 5-year forecasts.
At Disney, forecasts are reviewed daily at the highest levels to make sure that the model, assumptions, and
data are valid.
Disney uses a variety of statistical models including moving averages, econometrics, and regression analysis.
It also employs judgmental, or nonquantitative models.
Disney uses park attendance forecasts to drive decisions about staffing, opening times, ride availability, and
food supplies.
Disney's forecasting team employs 35 analysts and 70 field personnel to survey 1 million people/business
every year.
Disney uses a firm called Global Insights for travel industry forecasts and gathers data on exchange rates,
arrivals into the U.S., airline specials, Wall Street trends, and school vacation schedules.
At Disney, Error measures are applied; then the forecasts are used to schedule personnel down to 15- minute
intervals.
3

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