Courses and Events
Identifying trends and making forecasts
04/04/2017 - 05/04/2017
12 Errol Street
View in Goolge Maps (EC1Y 8LX)
If you’re looking to improve the way you plan your work and improve efficiency by introducing statistical forecasting, then this course is ideal. By the end of the session you will have a firm grasp of how to summarise and measure trends as well as how to extrapolate trends into a forecast. You will also have a good understanding of how to perform relevant calculations in Excel.
The first day is spent taking you through the 6 concepts that underlie all statistical thinking and analysis, namely Expectation, Variance, Probability, Risk, Distribution & Correlation.
The second day then looks at the fact that finding out what is going to happen next is one of the big questions in businesses. It would be so much easier to plan sales, purchases, production, staff and logistics etc. Many businesses know how important it is to forecast for the future, yet many fail to apply the fundamental concepts of statistical forecasting. Those that don’t use statistical forecasting face higher costs and uncertainty when the reality diverges from their plans. Those that do are able plan for the future much more effectively and efficiently.
Royal Statistical Society
Entry (no or almost no prior knowledge)
Website and registration
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