Business Forecasting

Catalog description

Statistical methods are used in the course to create forecasts for business data. The definition of a forecast and the methods for assessing alternative forecasts are covered at the start of the course. After introducing a number of forecasting techniques, the focus is eventually shifted to modeling the statistical characteristics of the data under examination. Early on, we'll talk about straightforward approaches devoid of complex modeling, such as naive predictions, forecasts based on averages, and exponential smoothing. The models get more complex as the course goes on since we'll cover forecasts based on regression models, so-called "ARMA" and "SARIMA" models, and ultimately multivariate approaches.