Forecasting and Decision Support: How to Connect Forecasts, Thresholds, and Action
Forecasting and decision support examine how predictions should inform action without replacing judgment. Forecasts estimate what may happen, but decisions require consequences, values, thresholds, uncertainty, timing, and accountability. This article explains probabilistic forecasting, base rates, reference classes, forecast horizons, calibration, forecast error, decision thresholds, value of information, scenario comparison, model risk, human judgment, dashboards, AI-assisted forecasting, and institutional learning. It shows why a forecast is useful only when it improves a decision: helping people act, wait, hedge, monitor, escalate, or revise under uncertainty. Forecasting can clarify risk, but it can also create false precision when point estimates, uncalibrated scores, or confident dashboards hide uncertainty. In decision science, forecasting becomes responsible decision support when forecasts are tested, documented, connected to thresholds, reviewed over time, and used to strengthen accountable judgment.









