Minitab for Time Series Analysis and Forecasting

The objective of this training program is to help trainees to master all the skills that are required to work with Minitab. The training program will help the trainee to perform all the statistical analysis with Minitab. It is also intended to make the trainees cover all the topics that fall under the domain of Minitab. Topics like Minitab GUI and Descriptive Statistics, Statistical Analysis using Minitab, Correlation Techniques in Minitab and Predictive Modeling using Excel will be covered in this training module and Project on Data Analytics using Minitab and Project on Minitab – Regression Modeling will be covered in the project module. The goal of this course is to help an individual to achieve knowledge of working with Minitab to perform time series analysis and forecasting of data in all sorts of statistics based problems. It will help all the interested trainees who are willing to extend their knowledge base concerned with Data analytics. This training will also assist the trainees to understand the sort of problems that could be resolved using this. After the finishing of the course, the trainee will advance with the skills needed for time series analysis and forecasting of data.

To understand the meaning of the “name” of the course, let us break down the curse and understand them word by word so that the intent of the course would be clear to our learners and we would set an expectation for our learners who would be pursuing the course. Let us start to understand what Minitab is. Minitab is a software used in use cases of statistics. Minitab, as the software is capable of data analysis, pattern detection through statistics, data crunching. Most of the calculation is automated, and graphs are generated as per the functionality required by the analyst working on the use cases. For this course specifically, we would be exploiting the use of Minitab for Time Series Analysis and Forecasting.

Now, let us understand what time series analysis is. Time series data is a collection of data over some time or interval. The data when captured over time typically might have some internal structure, for example, autocorrelation, trends, seasonality, stationarity, and many such fundamentals. For example, let us think about the sales of umbrellas or raincoats. We can see that in the selling of these items we might encounter a seasonality aspect, that they might be sold high during the onset of the rainy season. Also, we can see that the data itself might auto-correlate itself to the promos that might have been set by some stores, online or offline, and many more such intricate detailing through the understanding of time series analysis fundamentals.

Now when we know how to analyze the time series it becomes pretty evident that what exactly to do with the studies or hypothesis we developed as a part of the study. The answer lies in prediction! We would understand the fundamentals through historical time series data and then utilize that deep insight to predict or forecast for the future. In this way, we would be able to capture the historical trends and seasonality and utilize them to have a better insight into what’s in store in the future.

This course is a collection of well-crafted tutorials or topics we would naturally go about if we must fully understand the topic of time series analysis and forecasting. This course will allow you to get a sense of what is lying in the basket of time series analysis in the professional project which you would encounter as soon as you take up the project in your organization. This course makes you reach that level of being the “handful” of people who are capable of cracking even the toughest nut in the professional world.

This confidence you build in the course of this training will go a long way in not only analyzing the sense of time series data but also give you the capability to mentor people who would have just started their track on time series analysis. This course doesn’t differentiate between a beginner or an advanced learner. We have to learn for everyone who is here to expand their horizon of knowledge. Lastly, we would like to mention that this course will lay a strong foundation in time series analysis so that you would be able to build a strong mansion on this foundation layer.