This workshop is designed to provide delegates with a solid understanding and conceptual basis for time series forecasting models. This will be demonstrated via hands-on Excel exercises to equip delegates with the knowledge required to make
forecasts of business / market variables with greater accuracy than they may be experiencing now.

There are many software packages in the market which have a built in expert system that automatically selects the ‘best’ model (aka ‘best fit’) and then provides the resulting forecasts. However, with the expert system comes the danger of ‘black box’ forecasting. The model selected by software may or may not be the best one. To avoid black box model building, it is important for forecasters to understand what goes behind each model, as well as how and why a given model is chosen. On this account, we will discuss in detail what goes behind each model. We will use real data examples throughout the course to give the live experience
from variety of industry sectors. Our goal is to discuss those topics, which have a real application in business and are easy to apply.

Making improvements in Demand Management is one of the most critical factors to be able to attain a lean Supply Chain, since a clear correlation exists between High Forecast Error and Missing Market Share, Lost Sales, Dissatisfied Customers, Obsolescence or Wasted Expenditures.

Industry leaders and decision makers need to re-examine the way businesses think about the future. Leadership in Demand Chain Management results in increased customer satisfaction, increased revenue, and increased profit levels on the bottom line. This sets your company apart from the competition.

This workshop also makes specific recommendations for those striving to move up the demand forecasting maturity curve by providing you with new tools that speed up the validation of your data used for forecasting, increasing effectiveness of use of the software you have invested in and significantly increasing productivity of your forecasting staff.

  • Fully supported by excel hands-on exercises and pre-built what-if templates that can be easily adjusted
    to any business needs.
  • An extension to the Data Mining and Statistical Forecasting workshop focusing on Full Understanding of
    advanced Regression Forecasting methods.

Training approach:

Lecture Discussion
Hands-on Laptop

Target group:

  • Senior Analysts and Managers Responsible for
    • Market Research, Demand Sensing and Shaping, Supply Chain and Inventory Analysts and those Who Provide ‘What-If’ and Scenario Based Tools to Senior Management.