Fundamentals of Forecasting
Outcomes: The aim of the course is to instill 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
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.
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 launch 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 6 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 Features
- Lectures 41
- Quizzes 5
- Students 72
- Certificate Yes
- Assessments Yes
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Introduction
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Key Forecasting Principles
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Defining the market
- Introduction to defining the market
- Sales approach
- Example of sales based models
- Epi cross-sectional approach
- Example of epidemiology cross-sectional models
- Patient opportunity approach
- Example of patient opportunity models
- Patient flow approach
- Example of patient flow models
- Defining the Market Quiz
- Case Study Example
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Trending the market
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Adding Events
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Converting to volume and sales
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Case Study Exercise
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Completion
