Simply put, we could say that forecasting is focusing on what could happen in the future based on the historical and current performance of a company, whereas planning is doing the thinking before you take action to decide in advance what should be done in the future.
Sales Forecasting management requires you to analyze and clarify upcoming situations regarding the operations in which you are planning to engage. As you develop your forecast, historical and current information are weighed to predict what is going to happen. Forecasting, therefore, helps us to look ahead to trends and events and figure out how they might affect your company.
To accurately forecast your sales and build a sales plan can help to avoid unforeseen cash flow problems and manage your production, staff, and financing needs more effectively. It is an essential tool for managing a business of any size. Managers must have a good understanding of the basics, and it is quite impossible to get a feel without getting one’s hands dirty. The tools that we will use are Python, R and Excel.
At the end of this program, participants will be able to:
Help build data-driven business decisions
The primary method of instruction will be through LIVE lectures that will be beamed online via Internet to student desktops/laptops or classrooms. The pedagogy will comprise lectures, case walkthroughs, and analytical exercises imparted by XLRIs faculty. Concepts will be explained using examples drawn from the real life.
On-campus sessions shall build cohesion in the batch and pave the path to stronger and meaningful connections even beyond the program.
Hands on practical exposure to popular and sought after statistical tools like Tableau, google Analytics, Knime based on the requirement of the sessions
Simply put, we could say that forecasting is focusing on what could happen in the future based on the historical and current performance of a company, whereas planning is doing the thinking before you take action to decide in advance what should be done in the future.
Sales Forecasting management requires you to analyze and clarify upcoming situations regarding the operations in which you are planning to engage. As you develop your forecast, historical and current information are weighed to predict what is going to happen. Forecasting, therefore, helps us to look ahead to trends and events and figure out how they might affect your company.
To accurately forecast your sales and build a sales plan can help to avoid unforeseen cash flow problems and manage your production, staff, and financing needs more effectively. It is an essential tool for managing a business of any size. Managers must have a good understanding of the basics, and it is quite impossible to get a feel without getting ones hands dirty. The tools that we will use are Python, R and Excel.
At the end of this program, participants will be able to:
Identify areas in the organization how forecasting can be employed
Motivate participants having an analytics orientation to employ the same in the context of demand planning
Help build data-driven business decisions
What is Sales Forecasting and Demand Planning?
Data Visualization and Storytelling
Forecasting Accuracy Metrics and Tracking Signal
Introduction to Time Series Analysis
Smoothing Based Forecasting Techniques
Forecasting of Intermittent Demand
Introduction to Descriptive Statistics using R
Regression Based Forecasting Methods (include Hypothesis testing)
Advanced Time Series Techniques
Forecasting for New Products
Capstone Project
For Indian Participants - Graduates (10+2+3) or Diploma Holders (only 10+2+3) from a recognized university (UGC/AICTE/DEC/AIU/State Government) in any discipline with minimum 2 years of work-experience
For International Participants - Graduation or equivalent degree from any recognized University or Institution in their respective country with 3 years of work-experience
Prerequisites
Mathematics as a subject up to Class XII
Knowledge of basic programming concepts will be beneficial
The primary method of instruction will be through LIVE lectures that will be beamed online via Internet to student desktops/laptops or classrooms. The pedagogy will comprise lectures, case walkthroughs, and analytical exercises imparted by XLRIs faculty. Concepts will be explained using examples drawn from the real life.
On-campus sessions shall build cohesion in the batch and pave the path to stronger and meaningful connections even beyond the program.
Hands on practical exposure to popular and sought after statistical tools like Tableau, google Analytics, Knime based on the requirement of the sessions
A minimum of 70% attendance to the LIVE lectures is a prerequisite for the successful completion of this program. There are periodic evaluations built in throughout the duration of the course. These maybe in the form of a quiz, assignment, project, case studies or other objective/subjective assessments. The evaluations are designed ensure continuous student engagement with the course and encourage learning. Participants who successfully complete the same along with the requisite attendance criteria, an end course assessment and project work will be awarded a certificate of completion by XLRI. Participants who are unable to clear the evaluation criteria but have the requisite attendance will be awarded a participation certificate by XLRI based. These are subject to change based on the discretion of the program director/s.
The program has 2 days of Campus Component wherein the participants need to visit the XLRI Jamshedpur for 2 days of in-class sessions. The campus component is a mandatory part of the program. Other details regarding the campus component will be shared post Program commencement.
Instalment 1
INR 45000 + Tax / USD 750
On Registration
Instalment 2
INR 35000 + Tax / USD 625
On or before 30th Nov 2024
Instalment 3
INR 35000 + Tax / USD 625
On or before 15th Feb 25
Same topic, Similar duration - Broader exploration across all institutes
Speak with an Advisor
Prashansa Uttam
Programme Advisor
Executive Education Office
Fill out the form below and our team will get back to you within 24 hours.
