Identifying Trends and making Forecasts
Who is this course for?
Anyone involved in business planning, performance analysis and other similar roles that require analyses of historical trends and extrapolation of those trends to create forecasts.
What will I learn?
Those that don’t use statistical forecasting face higher costs and uncertainty when reality diverges from their plans. Those that do use statistical forecasting are able plan for the future much more effectively and efficiently.
Learning Outcomes
- Understand the distinction between sober & drunk time series (seriously!)
- Learn how to use hypothesis testing to confirm that a trend is a genuine trend.
- Learn how to use moving averages correctly to identify potential turning points.
- Discover the simplest method of identifying seasonality in your time series and to confirm it with hypothesis test.
- Uncover the basic principles of statistical process control and how you can use it to confirm deviations from an expected trend.
- Learn 4 different ways of extrapolating an existing trend to produce forecast.
Skills tags:
- data
- trends
- forecasting
- statistics