This course is part of the Excel Skills for Business Forecasting Specialization

4.9
stars
64 ratings

Dr Prashan S. M. Karunaratne

2,787 already enrolled

Offered By

Excel Skills for Business Forecasting SpecializationMacquarie University

About this Course

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This course allows learners to explore Regression Models in order to utilise these models for business forecasting. Unlike Time Series Models, Regression Models are causal models, where we identify certain variables in our business that influence other variables. Regressions model this causality, and then we can use these models in order to forecast, and then plan for our business' needs. We will explore simple regression models, multiple regression models, dummy variable regressions, seasonal variable regressions, as well as autoregressions. Each of these are different forms of regression models, tailored to unique business scenarios, in order to forecast and generate business intelligence for organisations.

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Shareable Certificate

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Course 2 of 3 in the

Excel Skills for Business Forecasting Specialization

Intermediate Level

Approx. 9 hours to complete

English

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Skills you will gain

Microsoft Excel
Business Forecasting
regression models

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 2 of 3 in the

Excel Skills for Business Forecasting Specialization

Intermediate Level

Approx. 9 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

5/5 (17 Ratings)

Dr Prashan S. M. Karunaratne

Senior Lecturer - Teaching & Leadership | FHEA

Department of Actuarial Studies and Business Analytics, Macquarie Business School

1,073,568 Learners

23 Courses

Offered by

Macquarie University

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Syllabus - What you will learn from this course

Week1

Week 1

1 hour to complete

Welcome and Critical Information

1 hour to complete

2 videos (Total 2 min), 3 readings

2 hours to complete

Regression Models

In this module, we explore the context and purpose of business forecasting and the three types of business forecasting using regression models. We will learn the theoretical underpinning for a regression model, and understand the relationship between explanatory variables and dependent variables. We will first focus on single variable or simple regression, and learn how to critically evaluate the model using regression diagnostic tools and then use our models for forecasting to suit our organisation's needs.

2 hours to complete

4 videos (Total 40 min), 3 readings, 4 quizzes

Week2

Week 2

2 hours to complete

Multiple Variable Regression

2 hours to complete

4 videos (Total 37 min), 2 readings, 4 quizzes

4 videos

Multiple Variable Regression8mMultiple Variable Regression — Introduction11mMultiple Variable Regression — Forecasts8mMultiple Variable Regression — Tests9m

2 readings

Download the Week 2 workbooks5mWeek 2 Toolbox10m

4 practice exercises

Multiple Variable Regression — Introduction10mMultiple Variable Regression — Forecasts10mMultiple Variable Regression — Tests10mWeek 2 Assessment40m

Week3

Week 3

2 hours to complete

Dummy Variable Regression

In this module, we extend the multiple regression model to take in qualitative binary explanatory variables. We will extend the theoretical underpinning for a multiple regression model by creating dummy variables for binary qualitative data. We will learn how to critically evaluate the dummy variable regression models using regression diagnostic tools and then use our models for forecasting to suit our organisation's needs.

2 hours to complete

4 videos (Total 27 min), 2 readings, 4 quizzes

Week4

Week 4

2 hours to complete

Seasonal Dummy Regression

In this module, we extend the binary dummary variable regression model to take in seasonal variables. We will extend the theoretical underpinning for a binary dummy variable regression model by creating a series of dummy variables to capture seasonality. We will learn how to critically evaluate the seasonal dummy regression models using regression diagnostic tools and then use our models for forecasting to suit our organisation's needs.

2 hours to complete

5 videos (Total 44 min), 2 readings, 4 quizzes

Reviews

4.9

20 reviews

5 stars
92.18%
4 stars
6.25%
2 stars
1.56%

TOP REVIEWS FROM EXCEL REGRESSION MODELS FOR BUSINESS FORECASTING

by STMar 5, 2023

The lecturer is very good at explaining, the materials cover all needed aspects. Thank you.

by MKNov 25, 2022

This course help me to work online and earn some extra money as well I gained excel and forecasting skills.

The instructor is really very nice.

by CMJul 12, 2021

A step-by-step guide for business forecasting! Very easy to follow and the course brush up my statistics on linear regression as well.

by MHNov 12, 2021

The lecturer did great demonstrating how equation looks like on business application.

View all reviews

About the Excel Skills for Business Forecasting Specialization

The current state of the world makes business forecasting even more fundamental to the operation of institutions. In this Specialization we focus on Excel Skills for Business Forecasting in three courses — Time Series Models, Regression Models, and Judgmental Forecasting.

In the first course on Time Series Models, we will be looking at how your business can utilise time series data sets to understand the different components underlying this data, and then apply the relevant model depending on these components to forecast for your business' needs. We then continue in our second course in this specialisation which looks at Regression Models, building causal models for both time series data as well as cross-sectional data. Causal models allow us to develop further business insights and strategy by controlling the inputs to generate the output we desire. In the third and final course, we explore the role of Judgmental Forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts and explore how Excel can assist us in these judgments. We will bring all these forecasting methods together in a final case study, giving you the opportunity to generate forecasts, which are the inputs to any organisation's planning.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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Excel Regression Models for Business Forecasting

About this Course

Skills you will gain