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Forecasting in Data Analysis Series
Learn how to use various types of data and analyses to improve your forecasting skills.Preview the first lesson free — get full access to all 29 lessons.
Intermediate Provider : Beth Baligrosky 7 chapters · 29 Lessons · 57m in Arabic, German, English, Spanish, French, Portuguese, Chinese
Course Description
In this course, we’ll focus on why using data analysis as a forecasting tool in a business environment is a good choice. You will learn how to go from trusting your instincts to making sound decisions by using data, one of the most powerful tools you can have.
After completing this course, you will be able to identify, extract, prepare, integrate, and consume data for effective forecasting outcomes. You’ll also be able to decipher good data from bad data, which types of data should be collected, which methods you should use to disseminate the data, and finally, what the data really means.
What You'll Learn
- Harvest, summarize, categorize, and disseminate data for successful forecasting outcomes
- Differentiate the methods used to interpret data and match the best method to your data
- Identify and track trends while recognizing and isolating outliers and isolated instances
- Work with time-series data, moving averages, and variable relationships
- Apply linear and multiple regressions, trend lines, curves, and tools such as Excel
- Measure forecast accuracy and integrity using mean absolute deviation and mean absolute percentage deviation
Key Takeaways
- The course explains why data analysis is a sound choice as a forecasting tool in a business environment.
- It teaches learners to move from trusting instincts to making sound, data-driven decisions.
- Learners are shown how to identify, extract, prepare, integrate, and consume data for effective forecasting.
- The course covers deciphering good data from bad data, which data to collect, how to disseminate it, and what the data means.
- It addresses spotting trends, outliers, and isolated instances and measuring forecasting accuracy and integrity.
Frequently Asked Questions
What will I be able to do after completing this course?
You will be able to identify, extract, prepare, integrate, and consume data for effective forecasting outcomes, and decipher good data from bad data, which types of data to collect, which methods to use to disseminate the data, and what the data really means.
What topics does this course cover?
It covers harvesting, summarizing, categorizing, and disseminating data; identifying forecast data types; time-series data and moving averages; trend identification and outliers; variable relationships; linear and multiple regressions; trend lines, curves and functions; using Excel and other data analysis tools; measuring variability and accuracy through mean absolute deviation and mean absolute percentage deviation; sampling, seasonality and testing; and statistical, trend and break-even analysis.
What skills does this course build?
It builds skills in forecasting, analytics, business analysis, business analytics, corporate forecasting, and data analysis.
Why use data analysis as a forecasting tool?
The course focuses on why using data analysis as a forecasting tool in a business environment is a good choice, helping you move from trusting your instincts to making sound decisions using data.
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