Analyzing Quantitative Models

J. Scott Armstrong, Alan C. Shapiro
1974 Journal of Marketing  
How can a potential user distinguish between a quantitative model that may be of some real value and one that is not? The model builder rarely provides much help, since most are advocates of their own work and tend to lose their objectivity toward the model. Therefore, an independent evaluation is necessary to judge the true usefulness of the model. This article presents a framework for the evaluation of quantitative models. The framework is both simple and realistic and could be used
more » ... by most organizations. It incorporates not only internal accounting data but also the human elements of bias or antipathy toward the models on the part of company employees using them, which might tend to distort an internal assessment and even the capability of the model itself. Since the SON-OF-FAITH model required a model to initially start with the FAITH predictions, it was then important to examine a model that was derived from actual data. A
doi:10.2307/1250199 fatcat:zswajrsdybhsrdex4pbkdlpdbi