Time Series Analysis and Forecasting with MS Excel
Learning Path | 2 Course Series
Our course empowers students with essential skills in Excel forecasting and data analysis, covering topics such as scenario analysis, weighted averages, regression analysis, and more. By mastering these techniques, students can make informed decisions and drive strategic outcomes in various fields including finance, sales, and operations.
Offer ends in:
What you'll get
- 5+ Hours
- 2 Courses
- Course Completion Certificates
- One year access
- Self-paced Courses
- Technical Support
- Mobile App Access
- Case Studies
Synopsis
- Introduction to Forecasting: Understanding the importance and applications of forecasting in various fields such as finance, sales, and operations.
- Scenario Analysis: Mastering the art of assessing different scenarios and their impacts using Excel's tools, enabling informed decision-making.
- Weighted Average Calculation: Learning how to calculate weighted averages, a crucial skill for analyzing data with varying weights or importance.
- Exponential Moving Average (EMA) Analysis: Understanding EMA analysis and its utility in identifying trends and patterns within time-series data, enhancing forecasting accuracy.
- Regression Analysis: Learning to model relationships between variables and make predictions based on data using regression analysis techniques.
- Data Manipulation and Formula Usage: Establishing foundational skills in data manipulation and formula usage within Excel to perform effective analysis.
- Attrition Analysis: Exploring the intricacies of employee turnover analysis and identifying factors influencing attrition rates.
- Moving Average Technique: Utilizing statistical techniques such as moving averages to smooth out data fluctuations and identify underlying trends.
- Seasonality Analysis: Identifying and accounting for seasonal variations in time-series data to improve the accuracy of forecasting models.
- Forecasting Model Construction: Constructing forecasting models using Excel's data analysis tools and techniques learned throughout the course, empowering students to make informed predictions and strategic decisions.
Content
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MODULE 1: Essentials Training
Courses No. of Hours Certificates Details Time Series Analysis and Forecasting with MS Excel 3h 5m ✔ Time Series Analysis and Forecasting Modeling with MS Excel 2h 01m ✔
Description
Time series analysis is a statistical method to analyse the past data within a given duration of time to forecast the future. It comprises of ordered sequence of data at equally spaced interval. To understand the time series data & the analysis let us consider an example. Consider an example of Airline Passenger data. It has the count of passenger over a period of time. Ample of time series data is being generated from a variety of fields. And hence the study time series analysis holds a lot of applications. Let us try to understand the importance of time series analysis in different areas.
- Field of Economics: Budget studies, census Analysis, etc.
- Field of Finance: Widely used in the field of finance such as to understand the stock market fluctuations, yield management, understand the market volatility, etc.
- Social Scientistà: Birth rates or death rates over a period of time and can come with the schemes in their interest.
- Healthcare: An epidemiologist might be interested in knowing the number of people infected over the past years. Like in the current situation the researchers might be interested in knowing the people affected by the coronavirus over a period of time. Blood pressure traced over a period of time can be used in evaluating a drug.
- Environmental Science: Environmental time series data can help us explain the rise in temperature over the past few years. Plot shows the temperature data over a period of time
Time series data collected over different points in time breach the assumption of the conventional statistical model as correlation exists between the adjacent data points. This characteristic of the time series data breaches is one of the major assumptions that the adjacent data points are independent and identically distributed. This gives rise to the need of a systematic approach to study the time series data which can help us answer the statistical and mathematical questions that come into the picture due to the time correlation that exists. Time series analysis holds a wide range of applications is it statistics, economics, geography, bioinformatics, neuroscience. The common link between all of them is to come up with a sophisticated technique that can be used to model data over a given period of time where the neighboring information is dependent. In time series, Time is the independent variable and the goal is forecasting.
In the 1st part, learners are introduced to the course's objectives and the central project it revolves around. They gain insight into the significance of forecasting with Excel, a crucial skill applicable across diverse fields such as finance, sales, and operations. Moving forward, learners delve into "Scenario Analysis," mastering the art of assessing various scenarios' impacts through Excel's tools. Following this, they explore the concept and application of "Weighted Average," a technique pivotal for calculating averages with varying weights, enhancing their data analysis capabilities. Subsequently, learners engage with "Exponential Moving Average Analysis," understanding its utility in deciphering trends and patterns within time-series data, all achievable through Excel's functionalities. Lastly, the module delves into "Regression Analysis," empowering learners to model relationships between variables and make informed predictions based on data, equipping them with invaluable analytical prowess for real-world decision-making.
In the 2nd part, learners are oriented to the course's focal points, kicking off with an overview of the project at hand, setting the stage for subsequent learning. Moving to "Data and Formula," learners delve into the foundational aspects of data manipulation and formula usage within Excel, establishing essential skills crucial for effective analysis. The module on "Attrition" delves into the intricacies of employee turnover analysis, offering insights into identifying patterns and factors influencing attrition rates. Following this, "Moving Average" introduces learners to statistical techniques for smoothing out fluctuations in data, providing a deeper understanding of trends and patterns over time. Subsequently, "Seasonality" explores the cyclical patterns inherent in time-series data, equipping learners with tools to identify and account for seasonal variations in forecasting models. Finally, "Forecasting and Model" synthesizes the acquired knowledge, guiding learners through the process of constructing forecasting models utilizing data analysis techniques learned throughout the course, thereby empowering them to make informed predictions and strategic decisions based on data-driven insights.
Requirements
- Microsoft Excel Proficiency: Participants should have a foundational understanding of Microsoft Excel, including basic data entry, formula usage, formatting, and navigating the interface.
- Statistical Concepts: Familiarity with statistical concepts such as averages, trends, and basic forecasting methods will be beneficial for comprehending advanced topics covered in the course.
- Data Analysis Skills: Basic data analysis skills, including the ability to manipulate and interpret data within spreadsheets, are essential for engaging with the course content effectively.
- Critical Thinking: Strong critical thinking skills are necessary for interpreting and applying the course material to real-world scenarios, as well as for problem-solving during data analysis tasks.
- Willingness to Learn: Participants should approach the course with a positive attitude and a willingness to learn new concepts and techniques in Excel forecasting and data analysis.
- Optional: Experience with Time-Series Data: While not mandatory, prior experience in working with time-series data or conducting forecasting analysis may provide participants with a deeper understanding of the course content.
Target Audience
- Business Professionals: Professionals working in finance, sales, operations, marketing, and other business sectors who need to analyze data and make informed decisions using Excel.
- Analysts and Data Scientists: Individuals responsible for analyzing data, identifying trends, and creating forecasting models to support decision-making processes.
- Students and Recent Graduates: Students studying business, finance, economics, or related fields who want to gain practical skills in data analysis and forecasting using Excel.
- Small Business Owners: Entrepreneurs and small business owners who rely on Excel for financial planning, sales forecasting, and business analysis.
- Educators and Trainers: Teachers, trainers, and educators who want to incorporate Excel forecasting and data analysis into their curriculum or training programs.
- Professionals Seeking Career Advancement: Individuals looking to advance their careers by acquiring skills in Excel forecasting and data analysis, which are highly valued in many industries.
- Continuous Learners: Individuals with a passion for learning and a desire to expand their knowledge and skill set in Excel and data analysis.
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