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Bespoke Training: Understanding Forecasting and Trends

Gain the Confidence to Interpret Trends

Overview

Do you want to improve your organisation’s performance, service delivery and make better business decisions? The ability to analyse and interpret statistical information is what you need.

Our Understanding Forecasting and Trends course gives those with a limited understanding of analysing forecasts and trends, the confidence to make more effective decisions, based on data reports.

Book this fully bespoke team training to learn how to; confidently identify and predict trends, meaningfully interpret data and identify the right forecasting technique for your organisation.

Take an active part throughout the day, using a mixture of computer models on spreadsheets, practical examples, interactive learning tasks and theory.

Learning Outcomes

  • Examine trends that may impact your organisation

  • Confidently interpret trend data in the most meaningful way

  • Understand how you can calculate trends and make forecasts

  • Learn how to effectively forecast to help make more effective business decisions

  • Learn how forecasting and trends can improve the performance of your organisation



All the Understanding ModernGov courses are Continuing Professional Development (CPD) certified,
with signed certificates available upon request for event.


Enquire About In-House Training

To speak to someone about a bespoke training programme, please contact us:

0800 542 9414
InHouse@moderngov.com



Agenda

09:15 - 09:45 Registration

09:45 - 10:00 Trainer's Welcome & Clarification of Learning Objectives

10:00 - 10:45 Workshop 1: Understanding the Language of Forecasting and Trends

  • Overview of common forecasting techniques

  • Understand key terms such as: time series, moving averages and seasonal effects

  • Examine a public sector data set in Excel and generate moving averages and charts

10:45 - 11:00 Morning Break

11:00 - 12:00 Workshop 2: How to choose the Right Forecasting Technique

  • Use Excel to identify common patterns in your data

  • Interpret charts in published trend analysis and forecasts

  • Practise using Excel to prepare a data set for trend analysis and forecasting

  • Understand different forecasting models: Linear trends and autocorrelation

  • Determine the purpose and desired outcome of the analysis – what do you want to discover: estimation, validation or prediction?

12:00 - 13:00 Workshop 3: Correlation and Regression

  • Learn ways of assessing how well your models fit the data

  • Generate predictions from linear and autoregression models

  • Learn how to conduct autoregression analysis on time series data

  • Think about predictor variables and their interactions in a public sector data set

  • Understand the difference between correlation and causation, and use the Pearson coefficient

13:00 - 14:00 Lunch

14:00 - 14:45 Workshop 4: Simple Trending

  • Extrapolate trends

  • Use Excel to generate trends

  • Measure the quality of your trend forecasts

14:45 - 15:00 Afternoon Break

15:00 - 16:00 Handling Seasonal data

  • Understand seasonality

  • Produce seasonal forecasts

  • Introduction to seasonal adjustment in Excel

  • Decomposition of time series into constituent parts

16:00 - 16:15 Feedback, Evaluation & Close

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