Journal of Defense Management
Open Access

Department of Economics, Defense Resources Management Institute (DRMI) Naval Postgraduate School, Monterey, CA, Belgium

Publications

• Review Article   
  A Data Analytic Guide for Defence Management and Budgeting
  Author(s): Melese Francois*
  
  This two-part guide reviews several standard data analytic tools with a wide variety of military financial management applications. Consider defence fuel budgets. The better our budget estimates, greater the efficiency and effectiveness of our forces. Budgeting too little can impact future operations, training, equipment, or sacrifice other priorities reprogrammed to fill funding gaps. Budgeting too much also risks sacrificing military priorities, as extra funds may be discovered too late to be reprogrammed efficiently. To minimize costly adjustments and wasteful reprogramming requires better guesses. The challenge with fuel prices is that they vary a lot. We have three choices, to: Ignore variability, Capture variability, or explain variability. The first section reviews extrapolative Forecasting and Sample Means (Averages) that mostly ignore variability, .. View More»
  DOI: 10.35248/2167-0374.21.11.214

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