Predictive Analytics (MGMT90216)

Predicting key business and economic variables is increasingly important, as it drives both objective decision-making and improved profitability. This course aims to cover the basic forecasting methods used to predict business and economic variables, based on historical data. These include traditional regression, time series, as well as emerging methods such as ensemble forecasts. Throughout, the focus will be on practical implementation of forecasting techniques using the publicly available software “R”. The importance of benchmarking, the assessment of forecasts from different models, and the use of forecasts in decision-making frameworks, will also be highlighted.