forecasting technique

forecasting technique

Identify a forecasting technique used in healthcare your place of employment to make an important budgetary decision. Discuss the type of forecasting technique used, steps taken in the forecasting process, and why this particular technique was used. Also, discuss concepts of seasonality, and trend on this decision and the outcome. How did this decision impact budget decisions and strategic planning for the unit/division or organization? (This information may be ascertained from your work experience, or through interviewing a nurse leader in your organization.) Include citations from the text or other sources in current APA format.

Criteria
Thread
All key components of the Discussion Board question are answered in a new thread.
In depth discussion of a forecasting technique, steps, and why technique was used with application to practice and rationale for decision making.
Discuss concepts of seasonality and trend on decision.
Discuss impact on budget decision and strategic planning for unit/division or organization.
Major points are supported by the following:
Textbook or articles (at least 2 scholarly citations less than 5 years old).
Thoughtful analysis of responses (considering assumptions, analyzing implications, comparing/contrasting concepts based on the readings from the text);
APA format, citations, spelling, structure, & grammar;
Sufficient word count (minimum 450 words);

Finkler, S. A., & McHugh, M. L. (2008). Budgeting concepts for nurse managers (4th ed.). St. Louis, MO: Mosby. ISBN: 9781416033417.
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