Forecasting experts are not always sufficiently knowledgeable about the way their forecasts are used by managers. Consequently there is a tendency for them to focus excessively on forecast accuracy instead of decision usefulness. This article draws on modern information theory to provide some...

Michael Barron and David Targett argue in favour of forecasting playing a relevant part in decision making. They point out that forecasting possesses reliable techniques, it is only when the gap between the producers of forecasts and the users is too great that managerial scepticism intervenes....