Applied Forecasting

Professional Certificate Course

Master forecasting and harness 40 years of knowledge and experience in just 6-weeks

Online professional forecasting course – earn a certificate that is digitally verifiable on the Bitcoin Blockchain

Learn how to correctly estimate forecasting uncertainties and figure out its implications to risk

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THE STARTING DATE FOR THIS COURSE IS FEBRUARY 10TH, 2020

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About the Course:

The purpose of forecasting is to help people improve the accuracy of their predictions and correctly estimate the uncertainty involved. The course is specifically designed to provide complete, hands-on knowledge on how to apply forecasting in business situations and using real-life data to do so.

Forecasts are needed for all future oriented decisions, from setting up inventory levels and constructing production or delivering schedules to all types of planning; from budgeting to strategic. This course covers all types of forecasting, both time series and regression, offering concrete information to business people on how to improve their accuracy and estimate their uncertainty realistically. The most important advantage of the course is its emphasis on hands-on learning by demanding participants use actual data to both predict and estimate the uncertainty of their predictions.

Participants will obtain further insights with the help of live Q&A sessions with the instructors and fellow participants.

The course is taught through online interactive sessions. The fact that they are not pre-recorded allows for live Q&A sessions with the instructor and the direct participation in the session.

The course begins with the basics of forecasting and covers all major time series and regression methods. These methods are called Regression methods or Time Series Methods and with the right assistance, the participants will understand which is the most appropriate way to combine these in order to achieve the best results for their businesses or organizations. The course covers all the latest trends in forecasting such as the implementation of AI and Machine Learning to make more accurate forecasting predictions, beginning with the basics, covering the major time series and regression methods, and continuing with Machine and Deep Learning ones. Furthermore, the main findings of the M Competitions will be presented and their importance discussed, highlighting the value of combining the forecasts of more than one methods. In addition, key forecasting packages will be demonstrated, allowing participants to learn how to use them for their predictions.

Finally, major forecasting applications will be described and fat-tailed uncertainty and its risk implications will be introduced.

Though forecasting applies to all industries, there are some that require it more than others. For instance, the retail industry is one which can benefit tremendously, if forecasting is applied correctly.

Moreover, this course is hugely beneficial to people who work with budgets; by taking this course they will greatly benefit in a number of areas, such as developing skills to create better budgets and the ability to look at different methods while accurately deciding which one of them is the most appropriate for their business.

Highly recommended for:

  • Executives in charge of finance, marketing, selling and operations
  • Consultants
  • Business Owners
  • Professionals working with inventories
Through a practical and explanatory course, participants will understand the various methods, advantages and drawbacks of each and how to practically apply the relevant information to their business model in order to improve forecasting accuracy and get a realistic estimation of uncertainty in their future predictions. Participants will also have the opportunity to get insights from the “M Competitions”, organized by the instructor.

Who you will learn from:

The course is led by renowned professor Spyros Makridakis, Director, Institute For the Future (IFF), University of Nicosia and Evangelos Spiliotis, National Technical University of Athens. There will also be experts teaching, specializing in topics such as Deep Learning (DL) and Machine Learning (ML) as well as forecasting for intermittent inventory demand.
Spyros Makridakis is founder of the Makridakis Open Forecasting Center (MOFC). He is also an Emeritus Professor at INSEAD and the University of Piraeus. He has authored, or co-authored, twenty-four books and more than 270 articles. His book Forecasting Methods for Management, 5th ed. (Wiley) has been translated into twelve languages and sold more than 120,000 copies while his book Forecasting: Methods and Applications, 3rd ed. (Wiley) has been a widely used textbook in the forecasting field with more than 5,300 citations.
Spyros Makridakis was the founding editor-in-chief of the Journal of Forecasting and the International Journal of Forecasting and is the organizer of the M (Makridakis) Competitions. His article “Statistical and Machine Learning Forecasting Methods: Concerns and ways forwards” has been viewed/downloaded more than 125,500 times in PLOS ONE where it was published in March 2018 while his paper “The forthcoming Artificial Intelligence (AI) revolution: Its impact on society and firms” (Futures, March 2017) is the most downloaded one of the journal. In November 2019, his citations in Google Scholar had surpassed 19,300.
Nassim Nicholas Taleb is a Lebanese-American essayist, scholar, statistician, and former trader and risk analyst, whose work concerns problems of randomness, probability, and uncertainty. His 2007 book The Black Swan has been described by The Sunday Times as one of the twelve most influential books since World War II.
Taleb is the author of the Incerto, a five volume philosophical essay on uncertainty published between 2001 and 2018 (of which the most known books are The Black Swan and Antifragile). He has been a professor at several universities, serving as a Distinguished Professor of Risk Engineering at the New York University Tandon School of Engineering since September 2008. He has been co-editor-in-chief of the academic journal Risk and Decision Analysis since September 2014. He has also been a practitioner of mathematical finance, a hedge fund manager and a derivatives trader. He is currently listed as a scientific adviser at Universa Investments.
He criticized the risk management methods used by the finance industry and warned about financial crises, subsequently profiting from the late-2000s financial crisis. He advocates what he calls a “black swan robust” society, meaning a society that can withstand difficult-to-predict events. He proposes antifragility in systems, that is, an ability to benefit and grow from a certain class of random events, errors, and volatility as well as “convex tinkering” as a method of scientific discovery, by which he means that decentralized experimentation outperforms directed research.

Course Schedule

Week 1: The Basis of Forecasting

Week 2: Data for Forecasting

Week 3: Statistical Methods

Week 4: Explanatory and ML/Methods

Week 5: Commercial Forecasting Packages

Week 6: Forecasting Applications

Still have questions?

Payment for the course can be made via bank transfer or online payment using Paypal, Credit Card or Bitcoin.

For group registrations, please contact Demetrios Tseas at [email protected] .

Through our online Moodle platform, you will have access to live sessions with the instructor and the opportunity to interact with fellow students.

The course focuses on real-life examples and case studies, thus has no pre-recorded material. Interaction with the instructors is always live while the team is available to answer any questions throughout the duration of the course.

Participants will be asked to work on and submit a final assignment and analyze a set of deal data, which can come either from their own business environment (preferred, if available) or can be provided by the instructor instead.

All assignments will be reviewed by the Spyros Makridakis. Those who have successfully submitted the final assignment will be eligible for the certificate of completion, which will be digitally verifiable.

The certificate will be issued in your name at no additional cost, upon successful completion of the course. There is no extra cost for maintaining your certificate.

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