In this course, we extend your business forecasting expertise from the first two courses of our Business Forecasting Specialisation on Time Series Models and Regression Models. We will explore the role of judgmental forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts using Business Indicators, Subjective Assessment Methods, and Exploratory Methods. For each of these methods, we will look at how we can use Excel to help us in achieving these judgmental forecasts and how Excel can help us visualising our forecast findings. Being judgmental forecasting methods, we will also look at the role of biases in Business Forecasting,
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Spécialisation Excel Skills for Business ForecastingUniversité MacquarieÀ propos de ce cours
You should be familiar with using Excel for quantitative business forecasting.
You should be familiar with using Excel for quantitative business forecasting.
Offert par
Université Macquarie
Macquarie is ranked among the top one per cent of universities in the world, and with a 5-star QS rating, we are recognised for producing graduates who are among the most sought-after professionals in the world. Since our foundation 54 years ago, we have aspired to be a different type of university: one focused on fostering collaboration between students, academics, industry and society.
Programme de cours : ce que vous apprendrez dans ce cours
Welcome and Critical Information
In this course, we extend your business forecasting expertise from the first two courses of our Business Forecasting Specialisation on Time Series Models and Regression Models. We will explore the role of judgmental forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts using Business Indicators, Subjective Assessment Methods, and Exploratory Methods. For each of these methods, we will look at how we can use Excel to help us in achieving these judgmental forecasts and how Excel can help us visualising our forecast findings. Being judgmental forecasting methods, we will also look at the role of biases in Business Forecasting,
Business Indicators
In this topic, we will explore the role that Business Indicators can play in creating business forecasts, in particular to make judgments on the cyclical component, via predicting turns in the business cycle. We will then look at how Excel can help us execute these insights into business forecasts.
Subjective Assessment Methods
In this topic, we will be exploring 3 different Subjective Assessment Methods for judgmental forecasting. These are structured methodologies to follow when creating judgmental forecasts. We will be looking at the Sales Force Composite Method, the Jury of Executive Opinion, and Subjective Probability Assessments. We will then look at how Excel can assist in executing these methodologies.
Exploratory Methods
In this topic, we will be exploring 2 different Exploratory Methods for judgmental forecasting. These are structured methodologies to follow when creating judgmental forecasts. We will be looking at the Delphi Method and Scenario Analysis. We will then look at how Excel can assist in executing these methodologies.
Biases & Bringing All of Business Forecasting Together
In this topic, we will reflect on the biases that can occur when conducting business forecasts. Then, we will be bringing all the topics together in a case study based assessment, where you will need to apply the principles of judgment to decide the forecasting method used, and utilise judgmental forecasting.
À propos du Spécialisation Excel Skills for Business Forecasting
The current state of the world makes business forecasting even more fundamental to the operation of institutions. In this Specialization we focus on Excel Skills for Business Forecasting in three courses — Time Series Models, Regression Models, and Judgmental Forecasting.
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