The aim of the course is to instil greater confidence in forecasting by providing an in-depth understanding of forecasting fundamentals. Following this course you will be able to:
- Identify the most appropriate forecasting methodology for your product
- Rationalise the pros and cons of different forecasting approaches
- Develop a forecast using best practice principles
- Ensure forecasts are clear and transparent for all users
- Critically assess existing forecasts
What will be covered:
All key topics will be covered to ensure a strong and comprehensive understanding of forecasting:
- Founding principles of good forecasting
- Key steps to creating a forecast; define, trend, event, convert
- Sales vs Epi vs Opportunity vs Patient Flow methodologies, and how to choose the correct approach
- How to include seasonality, structural breaks, recently launched products and much more, in your trend
- Probability, scenario, and econometric-based approaches
- Conversion to volume and revenue
- Once purchased, you will have access to this training course for 3 months.
How will it be covered:
The training is brought to life using engaging visuals, real-life examples, and a do-it-yourself case study.
- 17 videos and accompanying text walk you through the 4 key fundamentals of forecasting
- 6 real-life examples bring theory to life
- 5 quizzes test your understanding as you move through the training
- 2 case studies to put into practice what you have learnt- one in which you can design and build your own forecast model
- Total time: 7 hours
Course Content
- Introduction - Pre-training evaluation
- Introduction to fundamentals of forecasting
- Key forecasting principles
- Important elements and philosophies of good forecasting
- Defining the market
- Case study example: Build and populate define section of the model
- Trending the market
- Case study example: Build and populate trend section of the model
- Adding events
- Case study example: Build and populate event sections of the model
- Converting to volume and sales
- Case study example: Build and populate conversion sections of the model
- Case study exercise
- Post-training evaluation
Who Should Attend
We developed the Fundamentals course for anyone who plays a role in the forecasting process, no matter of their ability; brand teams, business intelligence, analysts, forecasters and those completely new to forecasting.
