"All stable processes we shall predict. All unstable processes we shall control.” John von Neumann
forLAB is the Forecasting Laboratory in Prifysgol Bangor University, a lab dedicated to Forecasting & Strategy and their synergetic links. Aspiring primarily to inform academics, practitioners and policy makers, we aim to advance the process of:
a) preparing an accurate set of forecasts,
b) communicating the uncertainty around these forecasts, and
c) efficiently employing (a) and (b) so as to take informed strategic decisions.
Dear forecast users: practitioners, policy makers, entrepreneurs, strategists, financiers, economists,... all of you have to understand that there is no such thing as ‘a perfect forecast’! Each forecast comes with an anticipated error - a proxy of the uncertainty around this forecast. You have to fully understand this uncertainty, but more importantly act proactively and strategically so as to take all those counter measures in order to cope with the consequences of this unavoidable uncertainty...
We are based at: forLAB, Hen Coleg 2.05, College Road, Bangor, Gwynedd, LL57 2DG, Wales.