About the course:
Study time commitment: Short Course
Learning style: Classroom
Who is the course for: Entry Level
Course provider: Master Research Australasia
Key contact: Dr. David Wilson
(CILT) Fundamentals of Demand Forecasting
This course introduces the idea of forecasting using causal and time series methods to estimate demand for a product or service. Examples are drawn from passenger and freight transport. Students must have a basic understanding of statistics and have some proficiency with Excel.
- Introduction to forecasting
- Expert opinion, Delphi, judgement
- Time series – patterns in data
- Moving averages and exponential smoothing
- Brown’s model for forecasting cyclical demand
- Causal or econometric modelling
- Data problems – multicollinearity, autocorrelation, heteroscedasticity
- Using Excel for demand forecasting
- Q – an introduction
On completion students will be able to develop simple econometric and time series of models to forecast demand for a product or service using Excel or a statistical package – SPSS or Q.
2 Days in Melbourne
This course assumes knowledge of elementary statistics such as “Statistics for Logistics” or an equivalent subject at least at high school statistics level. It is also assumed students can use a spreadsheet such as Microsoft Excel.