Foundations of Operational Research (OR): Statistical Methods in OR: Forecasting

Overview

🕮 Off the shelf (OTS)

This 1-day course is to develop a critical and practical understanding of Business Forecasting processes, with a focus on short to medium term extrapolation forecasting methods.

Forecasting is all about predicting future events. You will learn about some of the forecasting methods used to predict the uncertain nature of business trends in an effort to help managers make better decisions and plans. For example, all organisations need to estimate the future demand for their products or services, in order to be able to plan their operations, including employee numbers and make-up, finance, assets, inventory, marketing plans including promotions and prices.

By the end of the day you will gain a good overview of the various different methods available for making different types of forecasts, as well as having practised carrying out some techniques yourself using simple statistical software.