Forecasting practices in Mexican companies

A survey of firms in Mexico shows that many companies make limited use of modern forecasting methods. The forecasting techniques used in the US and included in the survey are little known or used by the reporting Mexican companies. This is in spite of the fact that business forecasting has been taught in colleges and universities in Mexico for many years. The most commonly used methods are the judgmental. A likely explanation is the unstable business situation suffered by companies in Mexico since the December 1994 devaluation. Economic instability will make it very difficult to use historical information for forecasting purposes.