This course will improve your skills in business forecasting principles and modelling, leveraging the power of open source software.
We will rely on R statistical computing language to gain a hands-on understanding of business forecasting theory. The course will provide the modern analyst with the know how to provide expert forecasting modelling and advice, both in terms of the technical details, but also in terms of improving the forecasting process within an organisation setting. We will cover state-of-the-art implementations of forecasting model families with proven track record, as well as more advanced forecasting approaches, addressing the complex challenges of business forecasting. Using the long experience of the Centre for Marketing Analytics and Forecasting at Lancaster University, this course will go beyond rehashing forecasting algorithms and code snippets, giving you an in-depth understanding of what happens under the hood, when an approach is fitting to the problem at hand, and what are the limitations of the various methods.
The course is ideal for the business forecaster who wants to gain an understanding of the statistical modelling and how to leverage the power of open source software for their companies, but also for the data scientist who wants to gain an in depth understanding of the business forecasting know-how.