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Comments by Experts

  • "At last, a book that brings together in one place the best thinking on the principles and major methodologies for forecasting. Marketers take note!" – Philip Kotler, S.C. Johnson & Son Distinguished Professor of International Marketing, Northwestern University
  • "Rarely does a book deliver so much more than one has any right to expect than does Principles of Forecasting. Both scholarly and practical, a must-have for academics involved in forecasting research and practitioners who depend on forecasts for their businesses. And the writing sparkles throughout. A tour de force!" – Gary Lilien, Distinguished Research Professor of Management Science, Pennsylvania State University


Reviews provided by scholars or published in journals and on websites are provided here. To date, 29 journals and web sites have reviewed the book.

  • 2004): "Having accumulated a large library of books and papers on business, economic, and technology forecasting I can state without hesitation that Scott Armstrong's collection of 20 sections and 31 essays stands out as the best resource available. ... This is the definitive, methodologically exacting, and highly readable work on the subject."
    • Daniel M. Byrd III – "I thought that the Handbook reflected the consistent objective of a group of experts to interpret and explain forecasting. ...[F]or persons involved in (or hoping to become involved in) forecasting or its allied and subsidiary fields, such as risk analysis or econometrics, it will prove indispensable.
    • Paul Sheldon Foote - "The Web site for this book is a very valuable resource for forecasters."
  •, Kesten Green, Wellington, NZ: "The subtitle, A Handbook for Researchers and Practitioners, too narrowly defines the audience for Armstrong's new reference. Principles of Forecasting is, in fact, an indispensable resource for managers and professionals of every ilk.... I keep my copy handy, refer to it often, and learn something new every time I do so. How many books could one say that of?"
  • Ausgabe, 16, November 2002, 42-44, a review in German by U. Küsters, University of Ingolstadt.
  • Australasian Journal of Market Research, July 2002, 10 (2), 35-45: Reviewer John Aitchison asks: "Why should a market researcher be interested in a book, and a big book at that, on "forecasting"? ... [D]oes it make sense to have one book with a scope as wide as this, one that attempts to meld quantitative and qualitative/judgmental prediction methods? ... I would have to answer “yes.” Principles of Forecasting ... succeeds admirably."
  • Business Economics, April 2002, 37 (2), 70-72: by Brandon Dupont, who says, "Overall, ... [the book] is a useful text for those business economists who are responsible for preparing forecasts on a regular basis."
  • Decision Line, 33 (1), Dec.-Jan., 2002, 19-20: "This book represents a significant contribution to the forecasting literature as it pursues a grand ambition: 'to summarize knowledge of forecasting as a set of principles.' ... The book will probably have an impact on the development of the forecasting field for years to come."
  • European Association for Decision Making Bulletin , Winter 2003: A review by Carmel de Nahlik says, "The editor, the contributors and reviewers must be congratulated not only on a well-edited and integrated work, but also on heroic effort to produce such up-to-date papers. ... It is a challenge to think what can be added to the existing reviews of this book. Will I recommend our library buy it? Yes. Will I recommend it as reading for students? Yes too ..."
  • Financial Engineering News, April 2002, Issue 25: A lengthy review by John Aitchison recognizes "It is not a mathematically oriented text-book, not specifically focused on finance nor for that matter only on time-series forecasting. ...So why would a hard-nosed, empirical, finance person be interested in Principles of Forecasting? Precisely because of its broad scope. It takes a step back, reviews ALL the evidence about a diverse set of forecasting methodologies and provides a framework against which you can assess your own approaches and tools." [Entire issue of FEN in PDF format]
  • futurecasts Online Magazine, February 2003 calls the Handbook "an essential reference work for any serious practitioner or student of forecasting and estimating methods. Most impressive ... is the book's objective evaluations of reliability of the various forecasting methods covered, and candid explanations of the degrees of uncertainty. "
  • the_futures-lab, Web site review that calls the Handbook "a valuable contribution to management training that may well become the definitive forecasting text in futures-studies programs. However, the material is also approachable for serious managers seeking guidance in assessing the flood of information they must use to forecast the futures of their organizations."
  • The Futurist, March-April 2002: " Principles of Forecasting is a valuable contribution to management training and may well become the definitive forecasting text in futures-studies programs."
  • Interfaces, November-December 2002, 21 (6), 91-92, by Benito Flores, says "This could be considered a handbook about best practices ... that have surfaced in the practice and research about forecasting. ...A forecaster (practitioner or academic) can use the principles that apply to his or her circumstances. The principles can provide a process path to elaborating excellent forecasts. If you follow them, will you have guaranteed better accuracy? I guess that nobody can provide a warranty, but the probability of accuracy will be improved."
  • International Journal of Forecasting,18 (2002), 468-478, by Paul Goodwin, with contributed reviews on quantitative non-causal methods (Keith Ord), econometric methods (Lars-Erik Öller), judgmental forecasting (Janet A. Sniezek), and diffusion of principles (Mike Leonard). "Scott Armstrong and his fellow authors have written an excellent handbook on forecasting. The book, together with its companion Web site and Forecasting Dictionary, provides the professional forecasting community with a centralized reference on sound forecasting principles."
  • The Journal of Business Forecasting , Spring, 2002, p. 30: "The authors intended this book to be a handbook containing detailed references to the forecasting literature. The principles are excellent starting points for developing expert systems for forecasting."
  • The Journal of Forecasting, 23 (2004), 233-235, by Lilian M. Demenezes: "Not surprisingly, together with its support website,, this book is becoming a reference on recent work in forecasting."
  • Journal of Marketing Research, November 2002, pp. 498-499" "Armstrong’s book goes beyond its stated goal of presenting the state of the art of forecasting research in the form of concrete principles; it sets the tone and direction for all future work in this area. The book has earned its place as the bible for forecasters and is a “must have” in every forecaster’s library."
  • Journal of the Royal Statistical Society, Series D, The Statistician, April 2003, 52 (1), 105ff,: by Gordon Welty, who says, "This very readable handbook provides a comprehensive synopsis of the entire field of forecasting. The editor, Scott Armstrong, is highly qualified to pull together such a volume. ...It should be kept near at hand by any statistician."
  • Knowledge@Wharton, August 2001: "For students, practitioners and researchers (or software developers), for whom a comprehensive understanding of forecasting is necessary, this book and its companion web site offer valuable resources. While not at all light reading for those outside the field, they provide an interesting window on an important aspect of economic theory and practice."
  • Oracle, May 2001, p. 3: "This work does much more than give a panoramic view of where we are today – it will be the starting point for years to come for any discussion of where the field should go in the future." Roy L. Pearson, College of William and Mary.
  • Risk Analysis, 21 (6), 2001, 1121-1122, review by Daniel Byrd: "Principles of Forecasting represents an enormous undertaking, which has paid off in a clear, coherent, and consistent book. ...The book was a wonderland of information for me."
  • Technological Forecasting & Social Change, 69, 2002, C 313-316: The book's "value lies not only in the fact that it is a valuable addition to a manager’s or decision-maker’s library, but that it deals with a hitherto neglected scientific field—that of treating the future as a consequence of human decisions in the present."