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Fundamentals of Forecasting

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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 92
  • Certificate Yes
  • Assessments Yes

  • Introduction 0/2

    • Lecture1.1
      Pre-Training Evaluation
    • Lecture1.2
      Introduction to Fundamentals of Forecasting 03 min

  • Key Forecasting Principles 0/4

    • Lecture2.1
      Important elements and philosophies of good forecasting 09 min
    • Lecture2.2
      Key considerations for good forecasting 11 min
    • Lecture2.3
      Key steps to follow when forecasting 03 min
    • Quiz2.1
      Key forecasting principles quiz 5 questions

  • Defining the market 0/11

    • Lecture3.1
      Introduction to defining the market 07 min
    • Lecture3.2
      Sales approach 14 min
    • Lecture3.3
      Example of sales based models 02 min
    • Lecture3.4
      Epi cross-sectional approach 15 min
    • Lecture3.5
      Example of epidemiology cross-sectional models 03 min
    • Lecture3.6
      Patient opportunity approach 12 min
    • Lecture3.7
      Example of patient opportunity models 04 min
    • Lecture3.8
      Patient flow approach 15 min
    • Lecture3.9
      Example of patient flow models 04 min
    • Quiz3.1
      Defining the Market Quiz 5 questions
    • Lecture3.10
      Case Study Example

  • Adding Events 0/9

    • Lecture5.1
      Introduction
    • Lecture5.2
      General principles when adding events 09 min
    • Lecture5.3
      Scenario-based Approach 04 min
    • Lecture5.4
      Example of scenario based eventing 06 min
    • Lecture5.5
      Probability-based Approach 09 min
    • Lecture5.6
      Example of probability based eventing 04 min
    • Lecture5.7
      Introduction to Econometrics 02 min
    • Quiz5.1
      Adding events quiz 5 questions
    • Lecture5.8
      Case Study Example

  • Converting to volume and sales 0/5

    • Lecture6.1
      Introduction 01 min
    • Lecture6.2
      How to convert to volume and sales 04 min
    • Lecture6.3
      Key considerations when converting to volume and sales 05 min
    • Quiz6.1
      Conversion quiz 4 questions
    • Lecture6.4
      Case Study Example

  • Completion 0/2

    • Lecture7.1
      Post-Training Evaluation
    • Lecture7.2
      Feedback

  • Case Study Exercise 0/7

    • Lecture8.1
      Introduction
    • Lecture8.2
      Map out model flow
    • Lecture8.3
      Build and Populate Define Section
    • Lecture8.4
      Building the Trending Section
    • Lecture8.5
      Building the Events Section
    • Lecture8.6
      Build and populate conversion section of the model
    • Lecture8.7
      Completion
£500.00

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