Workshop Overview
Build your forecasting skills with our instructor-led online Business Forecasting Workshop. The workshop combines forecasting principles, practical techniques, real-world examples, and Forecast Pro demonstrations.
Part 1: Forecasting Essentials is a three-day session covering core forecasting methods, best practices, model selection, and the development of an effective forecasting process. Part 2: Advanced Forecasting Techniques is a one-day session for more experienced forecasters, covering topics such as machine learning, dynamic regression, and new product forecasting.
Across the two sessions, you’ll learn:
- How commonly used forecasting methods work
- The strengths and limitations of different approaches
- How to select and apply appropriate forecasting techniques
- How to build a successful and sustainable forecasting process
- How to implement forecasting best practices using Forecast Pro
Both parts are live and interactive, with practical examples, discussions, demonstrations, and opportunities to ask questions. You may register for either session or both, depending on your experience and interests.
Attendees also receive access to the online Workshop Resource Center, including prerecorded presentations, additional learning modules, and PDF copies of the presentation slides.
Who Should Attend?
The workshop is valuable for anyone whose job responsibilities include preparing or analyzing forecasts—some prior knowledge of statistics is helpful but not essential. The tutorials use Forecast Pro and real-world data to provide a deeper understanding of the forecasting methods and to show best practices; these lessons are applicable regardless of which forecasting software your organization uses.
Part 1: Forecasting Essentials
Day 1 – Forecasting Fundamentals
Introduction to Forecasting
Exponential Smoothing
Day 2 – Developing Better Forecasts
Event-Index Models
Multiple-Level Forecasting
Forecast Accuracy and Evaluation
Day 3 – Improving Your Forecasting Process
Identifying Problems in Your Forecasting Process
The Forecasting Cycle: Bringing It All Together
Forecast Pro Tips & Tricks Clinic (Optional)
Part 2: Advanced Forecasting Techniques
Forecasting with Machine Learning
Dynamic Regression
New Product Forecasting
Part 1: Forecasting Essentials
Introduction to Forecasting
A broad overview of business forecasting and its various uses within the organization. Topics include approaches to forecasting, features of data, the role of judgment, selection of appropriate forecasting methods for varied data sets and resources for forecasters.
Exponential Smoothing
A survey of exponential smoothing techniques with particular emphasis on the Holt-Winters family of models. Topics include the pros and cons of using these models, when they are best used, how they work, identifying model components, parameter optimization and model diagnosis.
Event-Index Models
Event-index models extend the functionality of exponential smoothing models by providing adjustments for promotions, strikes and other non-calendar-based events. This session addresses how these models work, how and when they should be used, and how to customize their design to best suit your needs.
Multiple-Level Forecasting
This session explores hierarchical forecasting techniques. Topics include the need for forecasting at various levels, product vs. geographical hierarchies, reconciliation strategies, top-down vs. bottom-up approaches, the use of proportional allocation and adjustment for seasonality.
Forecast Accuracy and Evaluation
A detailed look at evaluating the accuracy of forecasting methods. Topics include the distinction between within-sample and out-of-sample errors, a survey of error measurement statistics, a summary of findings from forecasting competitions, and an explanation of how to use both real-time tracking reports and simulations as predictors of model performance.
Identifying Problems in Your Forecasting Process
Approaches for focusing on critical items when forecasting large volumes of data. Topics include evaluating and forecasting SKU data, filtering and ABC (Pareto) classification, outlier detection and correction, exception reporting and measuring accuracy across multiple time series.
The Forecasting Cycle: Bringing It All Together
Understand how forecasting methods, processes, judgment, and continuous improvement work together to create an effective forecasting approach.
Forecast Pro Tips & Tricks Clinic (Optional)
Join this optional session for practical tips, workflow recommendations, and answers to common Forecast Pro questions.
Part 2: Advanced Forecasting Techniques
Welcome and Workshop Overview
Start the session with introductions, workshop objectives, and an overview of the topics covered.
Forecasting with Machine Learning
This session overviews the basics and benefits of forecasting with machine learning (ML). Topics include the basics of machine learning powered forecasting, when ML is likely to improve your forecasts, how to use the completely automatic ML option in Forecast Pro and how to build custom ML models in Forecast Pro.
Dynamic Regression
A detailed look into the ins and outs of regression forecasting. Topics include when regression models are best applied, how to build the models, ordinary least squares, leading indicators, lagged variables, Cochrane-Orcutt models, hypothesis testing and the use of “dummy” variables.
New Product Forecasting
This session explores various approaches for forecasting new products. Topics include the pros and cons of different methods based on a product’s classification and a review of popular methods including item supersession, forecast by analogy and the Bass diffusion model.
One-on-One Post-Workshop Consulting Session
Have you ever run into a forecasting challenge and wish you had an expert you could turn to for help? Now you can!
Workshop attendees may add a private one-hour consulting session with an instructor for $100. Use the session to apply workshop concepts to your own data, address a specific forecasting challenge, or get advice on your forecasting process. Other members of your team are welcome to participate. Sessions must be completed within 30 days of the workshop.
Registration Details
Registration Fees
| Part 1: Forecasting Essentials | Part 2: Advanced Forecasting Techniques |
| Individual Registration: $595 per attendee | Individual Registration: $195 per attendee |
| Team Registration (3+ attendees): $395 per attendee | Team Registration (3+ attendees): $135 per attendee |
Optional one-hour post-workshop consulting session: $100
Class Size
Due to the interactive nature of the live presentations, attendance for each session is limited to 25 and attendees will be registered on a first-come-first-served basis.
Hours – All Times U.S. Eastern Time (ET)
The workshop will run from 11:00 a.m. to 3:30 p.m. each day.
Cancellation Policy
Cancellations received at least 14 days before the workshop are eligible for a full refund. Cancellations made less than 14 days before the workshop and no-shows are nonrefundable. Attendee substitutions may be made at any time.
Instructors
Eric Stellwagen is
Franklin Rea brings
