Judgmental Business Forecasting in Excel Master Class
Welcome to Excel Regression Models for Business Forecasting in which you will learn about Training goals and weekly learning objectives and Important information about versions and region
In this training we will focus on how Excel can help us visualising our forecast findings, judgmental forecasting methods, and the role of biases in Business Forecasting.
About this training:
In this training, we 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 and explore how Excel can assist us in these judgments. We will bring all these forecasting methods together in a final case study, giving you the opportunity to generate forecasts, which are the inputs to any organisation’s planning.
– The role of Judgmental Forecasting, when more quantitative forecasting methods have limitations, to generate further business insights.
– Structured methodologies to create judgmental business forecasts and how Excel can assist us in these judgments 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.
What will you learn:
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.
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.
Eligibility: For Students and Experts
Training Level: Advanced
- Financial aid available
- This Training Plus the Full Specialization
- Shareable Certificates
- Self-Paced Learning Option
- Training Videos & Readings
- Practice Quizzes
- Graded Assignments with Peer Feedback
- Graded Quizzes with Feedback
- Graded Programming Assignments
- Shareable on LinkedIn: You can share your Training Certificates in the Certifications section of your LinkedIn profile, on printed resumes, CVs, or other documents.