Andrew Harrison, Senior Data Analyst
If you have ever been called upon to forecast sales, revenue, demand, or other important business KPIs, it’s important to understand the different forecasting approaches available. A typical approach is spreadsheet-based judgmental forecasting where you project revenue, volume, or profits for a business. However, these top-down forecasts wind up being inaccurate because they don’t account for external economic factors, or they are driven by wishful thinking at the senior executive level.
In this webinar, we will empower you to develop data-driven forecasts that don’t just project an outcome, but also a confidence interval around that outcome by leveraging the following techniques:
•Forecasting an outcome variable using only the historical data for that variable
•Diagnosing cyclicality and seasonality in your outcome variable
•Identifying, gathering and preparing exogenous variables for your forecast (e.g., economic circumstances, search volume/popular interest in a given topic, weather-related data)
•An introduction to ARIMAX forecasting models that incorporate exogenous variables