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Course Outline

Challenges Encountered by Forecasters

  • Planning for customer demand
  • Managing investor uncertainty
  • Strategic economic planning
  • Addressing seasonal fluctuations in demand and utilization
  • Understanding the roles of risk and uncertainty

Time Series Forecasting

  • Seasonal adjustment techniques
  • Moving average methods
  • Exponential smoothing
  • Extrapolation strategies
  • Linear prediction models
  • Trend estimation
  • Stationarity concepts and ARIMA modelling

Econometric Approaches (Causal Methods)

  • Regression analysis
  • Multiple linear regression
  • Multiple non-linear regression
  • Regression validation
  • Deriving forecasts from regression models

Judgemental Methods

  • Conducting surveys
  • The Delphi method
  • Scenario building
  • Technology forecasting
  • Forecasting by analogy

Simulation and Additional Methods

  • Simulation techniques
  • Prediction markets
  • Probabilistic forecasting and Ensemble forecasting

Requirements

This course forms part of the Data Scientist skill set, focusing on the domain of Analytical Techniques and Methods.

 14 Hours

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