Quantitative Demand Forecasting

Demand forecasting involves using historical data to estimate and predict future demand by predictive analytics. Thus, it helps individuals to make better - informed decisions in the areas like sales & marketing, budgeting, production planning, inventory and supply chain management for the organization. This course is intended towards understanding the basic and advanced techniques of time-series forecasting and their use in industries. Participants will learn how to read time-series data to build appropriate models for demand forecasting and to optimize the model parameters for forecast accuracy.

Target Audience: 

    This program is primarily meant for senior specialist and supervisors working in planning, sales & marketing, budgeting and supply chain management areas to enable them to take data-driven decisions.

Learning Outcomes:

·       Develop an analytical mindset

·       Building spreadsheet forecast models based on historical data

·       Optimization model parameters for forecast accuracy

·       Identify areas in organization where forecasting can be used for improvement

Program Prerequisite:

·       Excel with data-analysis and solver tool pack

·       Basic Excel skills

·       Basic mathematical knowledge