Business Planning and Forecasting
3.7 (16 ratings)
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Business Planning and Forecasting

Learn the basics of business planning & forecasting process, methods and measurements from planning professionals
3.7 (16 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
907 students enrolled
Last updated 7/2017
English
Price: $100
30-Day Money-Back Guarantee
Includes:
  • 6.5 hours on-demand video
  • 8 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Understand the basic principles of planning & forecasting
  • Have an overarching understanding of various forecasting techniques
  • Understand the key components of the forecasting process and their respective contributions.
View Curriculum
Requirements
  • Students will need a desire to learn about planning processes and techniques
  • A basic understanding of statistics would be an asset
Description

Use Code 'WELCOME' for 10% discount

This is a comprehensive business planning and forecasting course that covers both qualitative and quantitative aspects such as the planning process and forecasting techniques.

The course has been designed by industry professionals with global work experience. The course will help you apply the learnings in real business situations. The design is less academic and more business oriented.

This course is suitable for planning professionals looking to sharpen their skills as well as students and others who aspire to become business planning professionals. 

This course aims to help the aspiring business planner better understand the role's functional requirements and the current demand planner better use advanced forecasting software.This course tackles demand planning from a business point of view and subsequently does not cover the mathematical derivations of the models involved.

This course has been designed for a planning professional working as a part of the business functions like supply chain, finance or sales & marketing. The purpose of the course is to equip the planner with the basic principles of planning and business understanding of the quantitative techniques and their use.

The course does not delve upon the mathematical derivations of the forecasting models or statistical computations of various coefficients and parameters. It is expected that the business planner would be using a planning software that assist in such derivations and computations.

If you are interested in deep dive forecasting statistics then this course may not be a best fit for you. However, if you are a business professional aiming to ace knowledge on application of techniques then this course is best for you.

Who is the target audience?
  • Professionals in planning functions who want to enhance their skill set
  • Students looking to build a career in Business Forecasting
  • Individuals looking to brush up on the basics of the Integrated Planning Function
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Curriculum For This Course
54 Lectures
06:14:53
+
Introduction to Business Planning and Forecasting
5 Lectures 31:56

This lecture introduces the two most frequently misunderstood terms in this subject - plan and forecast and briefly presents the contents of the course that are to follow

Preview 02:10

This lecture explains why planning and forecasting are necessary functions and shows the two steps in business forecasting - creating a baseline forecast and correcting it where required. It also explains the roles each function plays in order to bridge the gap.

Preview 03:44

This lecture explains the components in a typical business set up - from a supply chain function. It also shows the various components in a business hierarchy, and the different levels at which planning and forecasting are carried out.

Preview 04:37

This lecture introduces the various techniques used for forecasting - qualitative and quantitative and takes a deeper look at time series methods

The 4 Ws of the Forecasting Process
15:27

Introduction to Forecasting Techniques
05:58

Introduction to Business Planning and Forecasting Recap
8 questions
+
Data Cleansing
6 Lectures 32:21

This lecture looks at the quantitative method of detecting outliers - Standard deviation and the qualitative one - from business knowledge and experience. It also describes why advanced forecasting softwares can carry out the first but the second is more common and neccesary.

Detecting Outliers
02:28

These are errors identified by statistical methods. This lecture goes on to explain why not all statistical errors are business errors

Statistical Outliers
05:41

Business Event Outliers - these are marked but not necesarily eliminated by data cleansing and is preferred by planners as the more practical method

Business Event Outliers
02:13

Correcting Outliers is a method by which a statistical substitute us found for the outlier - this lecture explains the steps to the same and why this is a required feature of advanced forecasting systems

Correcting Outliers
01:43

This lecture shows how outlier detection and correction is carried out in the advanced forecasting system Planamind with live examples

Outlier Detection and Correction Using Forecasting Software
08:22

Data Cleansing Recap
5 questions
+
Simple Forecasting Models
3 Lectures 11:29

This lecture the first in this course - introduces simple models used in forecasting and explains why they are still relevant despite advanced systems being capable of generating complex forecasts easily. It also accentuates a primary rule of thumb in forecasting and its corollary

Preview 03:11

This lecture presents Simple Moving Average as a primary non complex method of forecasting and the steps to carry out the same

Introduction to Simple Moving Average
03:13

This lecture describes another model used in forecasting - here the timelines series dara from the previous year is used as the forecast or a fixed percent rise is used

The Same As Last Year
05:05

Simple Forecasting Models Recap
6 questions
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Exponential Smoothing
8 Lectures 46:10

This lecture the first in exponential smoothing explains introduces that model of forecasting. It explains the logic behind it,the steps to carrying it out , the most significant parameters and the three kinds of exponential smoothing models

Preview 05:44

This lecture explains the various members of the exponential smoothing family and the varying parameters that determine them in detail

Exponential Smoothing Family
04:11

This lecture explains additive and multiplicative seasonality, the steps to solving them and their formulas in detail

Understanding Additive and Multiplicative Seasonality
04:09

This lecture briefly explains the smoothing constants, alpha, beta and gamma, the features they employ and the parameters they define

Smoothing Constants
03:23

Importance of data length
04:05

This lecture explains the various arguments for and against Exponential Smoothing as a forecasting method

Exponential Smoothing - Pros and Cons
02:36

This lecture gives guidelines on how to choose the most apt member of the exponential smoothing model family for the data series

Choosing the Right Exponential Smoothing Model
08:10

This lecture provides examples and computations of the various members of this family on an advanced forecasting software

Exponential Smoothing - Examples and Computations
13:52

Exponential Smoothing Modelling Recap
12 questions
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ARIMA
7 Lectures 47:31

Components of ARIMA
18:31

Reading the ARIMA model
07:22

ARIMA - Pros and Cons
01:33

Exponential Smoothing Vs. ARIMA
01:47

Regression Vs. ARIMA
01:03

ARIMA - Examples and Computations
14:24

ARIMA Recap
9 questions
+
Intermittent & Discrete Data Models
4 Lectures 23:36

Reading Croston's Intermittent Demand
08:08

Pros and Cons of Croston's Intermittent Data Model
00:54

Discrete Data Series
11:02

Intermittent and Discrete Data Models Recap
6 questions
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Error Measurement
6 Lectures 41:42

Measure of Model Fitment R - Squared
04:48

Behavioral Measure Bias
06:16

Popular Quantitative Measures
05:14

Process Measure Forecast Value Add
03:58

Analyzing the Error
15:37

Error Measurement Recap
8 questions
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New Product Forecasting Using Machine Learning
8 Lectures 54:24
Introduction
00:56

Need For New Product
01:53

New Product Classification
08:29

Types of New Product Forecasting
01:41

Forecasting by Analogy
08:32

Similar Product Selection by Machine Learning
18:26

Best Product Pick
05:36

Forecasting for new to the world product
08:51
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Planning Function & Process
7 Lectures 01:25:44
Introduction to Planning Function
00:34

Key objectives and best practices
12:26

Key planner skills and success commandments
12:05

Functional roles and responsibilities
34:18

Consensus process and forecast cycle
09:02

Top Down approach
06:29

Using POS and Syndicated Data
10:50
About the Instructor
Anamind Business Consulting
4.0 Average rating
31 Reviews
1,560 Students
6 Courses
Powerful Planning. Simplified

Anamind helps organizations build business planning and forecasting capability. With simplicity at the core of our approach we offer a world class planning system - PLANAMIND, process consulting services, and training for business planning.

This course has been specifically designed by us to help planning professionals as well as aspirants of this function worldwide, to understand and build their skills in business planning. The course contains both quantitative and qualitative aspects of planning. 

This course is business oriented and not purely academic in nature. We have incorporated our years of learning from global work experience. We have ensured that you are equipped to apply the learnings in real business situations and contribute to your career and as well as your organisation.

Course Design Leads

Dr. Steve Miller, Vice President, has over 40 years of vast expertise in business planning and supply chain function working in Fortune 500 companies like Goodyear as well as the teaching experience in Akron University and Herzing University. 

He holds Bachelors & Masters Degree in Mathematics from Akron University, USA and Doctorate in Theology from Andersonville Theological Seminary, USA

Rishi Trivedi, CEO, is a Business Planning professional with over 15years of work experience in Fortune 500 companies like Apple, Hewlett Packard and Intel. His teaching experience includes assignments with University of Pune and Symbiosis International University.

He is a Chartered Accountant (India) as well as the Certified Professional Forecaster (IBF, USA). He also holds a Masters Degree in Economics from Pune University and Management Certification from IIM Calcutta.