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Introduction to Forecasting

Inside + Hindsight = Foresight

How often have you looked back with the benefit of hindsight and wished you knew then what you know now? Aimed at all finance professionals involved in the budgeting and forecasting process, this session discusses how you can reduce the risks in your forward-looking decision-making by utilising our kit bag of qualitative and quantitative tips, tools and techniques.

Hands-on Modelling

This practical session provides an introduction to the analysis that can be built into forecasting and budgeting developed in spreadsheets. Using simple statistical tools and an overview of some of Excel’s little-known functions and functionalities, this seminar will provide att­endees with a pragmatic approach to enhance the efficiency and effectiveness of their forecasting.

Excel Base Examples

This course will show participants how to improve forecasting techniques, using sanitised real-world examples, to turn historical data into future management information.  

Key Benefits

This session will:

  • Provide a practical understanding of Excel’s data forecasting and charting functions
  • Quantify the risks and rewards of estimating future assumptions and outputs
  • Explore different forecasting and trending methods
  • Equip att­endees with several ways to confirm and optimise key outputs.

Programme Outline

  • Create formula based data forecasts
  • Regression analysis
  • Bias and error estimation
  • Scenario modelling
  • Creating a waterfall chart
  • Creating a tornado (sensitivity) chart
  • Calculating and graphing moving averages
  • Defining and solving problems: e.g. Goal Seek versus Solver.

Who Should Attend

This session would suit experienced Excel users, financial analysts, management accountants and other professionals who have vested interests in forecasting trends at the strategic, tactical, operational and planning levels.