BUSN2031 Business Forecasting

2019

4.5

1 x 3-hour workshop weekly

1 of BUSN1009, BUSN1209

1 of BUSN2001, ECON3006, ECON7028 has been successfully completed

Familiarity with basic Microsoft Excel techniques taught in BUSN1009

Bachelor of Business; Bachelor of Commerce

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. In tutorial exercises and an assignment, students use Microsoft Excel computer software to apply the techniques in business forecasting situations.

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

Upon successful completion of this topic students will be able to:

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.