Webinar on Forecasting for Profit: The Basics

Overview: 

This webinar will cover the basics of creating a model to forecast variables that are relevant to a business such as product demand or price of an important input.

What are the steps to formulating a forecast model? How do you estimate a model? What are the potential pitfalls in formulating and estimating a model? How do you determine which model formulation performs best? How do you test your model? What do you need to do once you have built your model? 

Why should you Attend: 

Every company faces multiple decisions over time: what price to set, how much to produce, whether to enter a new market, whether to build a new plant, etc. Many monitoring systems that most businesses already have in place (e.g., inventory control systems) guide these decisions. However, some decisions require long-term planning. The wrong decision can cost a company lost market share or unnecessary increases in expenses due to over expansion. There will always be risk in these decisions, but a careful forecast of the impact of these decisions on a company's balance sheet can reduce the risk. Often a company is sitting on a wealth of data that it only partially exploits.

This session lays out the basics of building a forecast model. It will cover the major "Dos" and "Don'ts" of building a forecast model. How do you start the process? What are some of the pitfalls to avoid? How can you leverage the knowledge you already have? 

Areas Covered in the Session:

• Overview of forecast model building
• The hard work: understanding what goes into your forecast model
• Pitfalls of model building
• Estimating and testing your model

Who Will Benefit:

• AVP, VP, SVP
• Developers
• Bankers
• Mortgage Lenders
• Building Materials Suppliers
• Architectural Firms