Business Forecasting | insAnalytics

Programme Objectives

The “Business Forecasting” programme offers a skill-building platform to professionals across industries and business functions. The programme imparts a quantitative flavor to the art of business forecasting. The programme awards expertize to participants in deploying time series forecasting and predictive modelling techniques to identify business opportunities as well as business challenges ahead.

Who should go for the Programme?

The “Business Forecasting” programme has been designed & developed primarily for professionals interested in addressing business challenges using the powerful tools & techniques of Business Forecasting. The programme facilitates competency development in time series forecasting and other predictive techniques, and is beneficial for professionals across industries (manufacturing, retail, banking, automobiles, airlines, telecommunications, media, etc) as well as across business functions (marketing, finance, strategy, operations, supply chains, etc).

Key Takeaways

After successful completion of the “Business Forecasting” programme, participants will be able to:

Understand & analyze various time series data
Gain proficiency in different forecasting and predictive techniques prevalent in the industry
Articulate the dos-and-don’ts of a business forecasting initiative
Execute & manage business forecasting processes for their businesses
Effectively & efficiently forecast future values of relevant business KPIs/ metrics

Learning Mode

Curriculum Overview

Introduction to Time Series Analysis

Components of Time Series data
Time Series Additive Model
Time Series Multiplicative Model

Introduction to Predictive Analytics

Predictive Analytics techniques

Smoothing of Time Series data

Measuring the Seasonal Index
Moving Averages

Fitting Trend Equations

Fitting Linear trends
Fitting non-Linear trends
Least Squares estimation
Piece-wise estimation

Forecasting through Exponential Smoothing

Exponential Moving Averages
Holt-Winter model

Box-Jenkins Methods of Business Forecasting

Correlogram Analysis
ARMA Modelling
ARIMA Modelling
ARIMAX Modelling
ARCH/ GARCH Modelling

Outliers in Time Series data

Identification & Treatment
Additive outliers
Multiplicative outliers
Level-shift outliers

Case studies/ Use cases

Projects/ Assignments

Evaluation/ Examination

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Are there any Learning Pre-requisites?

The “Business Forecasting” programme is essentially of a relatively specialized nature, and hence there are certain learning pre-requisites for the programme.
In order to enhance the efficiency & effectiveness of participants’ learning, it is desirable that participants possess some basic knowledge of Statistics. In addition, prior awareness of and/or exposure to probability theory, linear algebra and calculus would facilitate participants’ learning efficiency.
Prior knowledge of computer programming is not necessary, though this will provide an added advantage.
Participants with no prior exposure to the learning pre-requisites (Statistics, probability theory, probability distributions, etc), as well as participants who wish to refresh their knowledge of these areas, can rapidly bring themselves up to speed through our specially-designed preparatory programme – the “Essentials of Business Analytics” programme.

For Enrollment

Business Forecasting

MEET Our Consultants & Faculty

Dr. Nidhan "Neal" Choudhuri

Ph.D. (Statistics), Michigan State University.
B. Stats. & M. Stats., Indian Statistical Institute, Calcutta.
Ex-Chief Scientist & Founder, PlanetRisk Inc, Bethesda, US.
20+ years of industry exp. with Morgan Stanley, Barclays Capital etc.

Mr. Aditya Biswas

B. Tech. (Mechanical) & M. Tech (Industrial Engg. & OR) IIT, Kharagpur.
Ex-Principal Consultant in TCS, Head of IT in Allahabad Bank.
Specialized in Process Optimization, R & D and Management Consulting.
30+ yrs of industry exp.

Somnath Sinha

B.Tech. (Electrical Engg), IIT Bombay.
PGDM, IIM Calcutta.
20+ yrs with IBM as IT Services Leader, CIO, HR Director &s Director, Integrated Operations.
Partnered with Accenture, IBM, PwC, KPMG, E&Y, etc.
30+ years of industry exp.

Prof. B. B. Chakrabarti

Ph.D. in Economics, Gold Medalist PGDM, IIM Calcutta.
Gold Medalist - BE, Jadavpur Univ.
20+ yrs as a Renowned Prof of Finance at IIM Calcutta.
24+ years of Industry experience with United Nations, Deustche Bank etc.

Business Forecasting
Address business challenges and tap opportunities through business forecasting and other predictive techniques

6 Weeks programme

Key Takeaways