Overview

The ability to forecast and analyse trends can help public sector organisations improve performance, make better business decisions, and improve service delivery. It is therefore essential that you have a firm grasp of analysing and interpreting statistical information.

This 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.

Attend this Understanding Forecasting and Trends course to learn how to; confidently identify and predict trends, meaningfully interpret data and gain the skills to be able to apply the right forecasting technique for your organisation.

Take part in practical workshops throughout the day using Excel spreadsheets, practical examples, interactive learning tasks, and theory.

Unlocking the Power of Virtual

Our virtual courses have been designed with you in mind. From group exercises in breakout rooms to live chat, whiteboards and interactive polls, we use a range of tools and techniques to ensure that you can connect with your trainer; network and share best practice with your peers and leave the day with the skills you need.

Our courses provide you with an interactive and engaging learning environment that can be accessed from any location, helping you to continue to connect, learn and grow. Click here to discover more!

Please note this course will be using Zoom to deliver the day.

trainer photo
Branko Pecar
Statistics Consultant

Branko spent most of his career working for Emerson, a global and one of the largest process control equipment manufacturing corporations. His last position was VP Educational Services. In the past, he also lectured at University of Gloucestershire in several subjects, including quantitative methods and applications of Excel.

He published a series of books in statistics with a variety of publishers, such as McGraw Hill, Oxford University Press and Amazon. Almost all of these books are based around applying a variety of sophisticated methods using the simplest Excel syntax. He has been using Excel for over thirty ...

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Learning Outcomes

  • Understand how you can forecast trends
  • Learn how forecasting and trends can improve the performance of your organisation
  • Confidently interpret data in the most meaningful way
  • Learn how to effectively forecast to help make more effective business decisions
  • Examine trends that may impact 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
[email protected]

Agenda

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09:15 - 09:30

Registration

09:30 - 09:45

Trainer's Welcome & Clarification of Learning Objectives

  • The purpose and challenges of forecasting
  • Mitigate the uncertainties that the future brings
  • Relationship with planning and decision making
09:45 - 10:45

Workshop 1: Understanding the language of Forecasting and Trends

  • Different average values
  • How to make estimates
  • Randomness
  • Stationarity
  • Linearity
  • Periodicity and Seasonality
  • Forecasting horizon
  • Accuracy and Precision
  • Forecasting errors and error metrics
  • Prediction interval
10:45 - 11:00

Break

11:00 - 11:30

Workshop 2: How to choose the Right Forecasting Technique

  • The purpose and objectives
  • Identify patterns in data
  • Understand the rules of forecasting
  • How do you know that you’ve made the right choice
11:30 - 13:00

Workshop 3: Correlation and Regression

  • Graphs and charting variables
  • Establish correlation between variables
  • Correlation matrix and variable lagging
  • Conduct regression analysis
  • Simple prediction interval
13:00 - 13:45

Lunch

13:45 - 14:00

Reflection Session

  • Trainer will review the day’s learning and the next stages of the course
  • Delegates will have time to ask questions and share views with one another
14:00 - 14:45

Workshop 4: Simple Trending

  • Use Excel to generate trends
  • Extrapolate trends
  • Measure the quality of your trends (accuracy and precision)
  • What to do with short-term forecasts?
14:45 - 15:00

Break

15:00 - 16:00

Handling Seasonality

  • Introduction to exponential smoothing
  • Use Solver to optimise forecasts
  • Understand and apply the embedded Excel ETS method
16:00 - 16:15

Round Up and Key Takeaways

Pricing

Central Government & Agencies - Virtual

Delegate Price
£345 + VAT

Local Government, Housing, Education & Health - Virtual

Delegate Price
£345 + VAT

Charity - Virtual

Delegate Price
£345 + VAT

Private Sector - Virtual

Delegate Price
£445 + VAT