November 15, 2023 - November 16, 2023
9:00 am - 5:00 pm
Time Series Forecasts
About the course
Companies are ruled by their future expectations, basing their investments and success on forecasts, so correct forecasting is key. However, there are so many different forecast models that it is hard to know which one to use when. Every business needs a unique forecasting perspective depending on the granularity and variability of the data, seasonality, trends, and forecast horizon. Our forecast training provides you with a lens to critically identify where to implement and improve forecasting in your organization by breaking down the steps and best practices used by our expert trainers. This course provides basic and advanced modeling tools to develop your own data-driven forecast system using real-life cases. As well as perform these techniques practically and make forecasts in Python.
Why this is for you
Application forecasting is key for all businesses to find out their trajectory in the next periods and be equipped to reach their goals and ambitions in the future. But this is easier said than done, as using the wrong method or a biased forecast could result in using incorrect output for strategic steering and actually leave you worse off. We will teach you to understand the best methods, when and how to use them, so you can create a significantly better forecast.
This course is designed for Data Scientists wanting to improve their forecasting techniques and get data-driven results. Please note it is recommended you have completed our Regression Models (3203) badge before starting this training.
What you’ll learn
- Introduction and overview of forecasting
- Basic forecasting techniques Holt-Winters
- Advanced forecasting techniques TBATS and SARIMAX
- To explore time series and make a data decomposition
- To apply K-fold cross-validation techniques for forecasting
- How to perform advanced forecasting techniques on real data
- How to complete deviation management on forecasting case
- Overview of forecasting – Understand and explain the importance and essential principles of forecasting
- Basic forecasting techniques – Perform basic forecasting techniques and make a data decomposition
- Forecasting metrics and validation techniques – Complete k-fold cross-validation using correct metrics
- Advanced forecasting techniques – Perform advanced forecasting techniques and understanding what techniques to use depending on the situation
- Deviation management as part of model management – Make a deviation analysis based on a comparison of the forecast to the actuals
Theory and practical use
All trainings in the GAIn portfolio combine high-quality standardized training material with theory sessions from experts and hands-on experience where you directly apply the material to real-life cases. Each training is developed by top of the field practitioners which means they are full of industry examples along with practical challenges and know-how, fueling the interactive discussions during training. We believe this multi-level approach creates the ideal learning environment for participants to thrive.