BUSN2031 Business Forecasting

The topic will provide students with the opportunity to develop skills in business forecasting. It will explain how to make business forecasts in circumstances where there is little information available and situations where considerable data are available. Major business data sources are reviewed and methods of processing data to generate good forecasts are described. These methods include regression, time series analysis and judgmental procedures. Students use Microsoft Excel computer software to apply the techniques in business forecasting situations.

This topic aims to provide students with the knowledge to develop the required skills necessary in business forecasting.

1. Obtain information and process that information to make good business forecasts in situations where there is much information and where there is little
2. Use the business software package Excel to carry out statistical tests, multiple regression and time series analysis
3. Use statistical and judgmental methods to make business and marketing forecasts