How will customers act in the future? What will demand for our products and services be? How much inventory should we order for the next season? Beyond simply forecasting what customers will do, marketers need to understand how their actions can shape future behavior. In Developing Forecasting Tools with Excel, learners will develop an understanding of the basic components of a forecasting model, how to build their own forecasting models, and how to evaluate the performance of forecasting models. All of this is done using Microsoft Excel, ensuring that learners can take their skills and apply them to their own business problems.
Forecasting Models for Marketing Decisions
Forecasting Models for Marketing Decisions
This course is part of Foundations of Marketing Analytics Specialization
Instructor: David Schweidel
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4.4
(78 reviews)
Intermediate level
Some related experience required
11 hours to complete
3 weeks at 3 hours a week
Flexible schedule
Learn at your own pace
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Assessments
4 assignments
Taught in English
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This course is part of the Foundations of Marketing Analytics Specialization
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There are 4 modules in this course
This module will discuss how to identify the necessary components of a forecasting model based on patterns in the history data. You will also be able to evaluate the performance of a forecasting model using both in-sample and out-of-sample metrics.
What's included
4 videos3 readings1 assignment
"Meaningful Marketing Insights," This content will be familiar for learners who completed the first course; please think of this portion of the class as a review.
What's included
6 videos5 readings1 assignment
This module will discuss managing customer equity, acquisition, retention, & market value, and customer valuation. You will learn how to decompose customer value into its underlying components.
What's included
4 videos2 readings1 discussion prompt
A common task in developing forecasting models is to use them to make decisions regarding the marketing mix activity. With a marketing mix model, organizations can assess the efficacy of different marketing actions. Included is a sample of data for a popular frozen food category. In addition to weekly sales and pricing, for the focal brand we have information on whether the product was featured in the store’s advertising (e.g., newspaper circular) and if the product was on display in the store. We also have pricing information from competitors. In this module, we will build a series of regression models to evaluate the impact of the brand’s actions and competitors’ actions.
What's included
4 readings2 assignments1 peer review1 discussion prompt
Instructor
Instructor ratings
4.5 (7 ratings)Offered by
Recommended if you're interested in Marketing
Fundação Instituto de Administração
University of Colorado System
Erasmus University Rotterdam
University of California, Irvine
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Reviewed on Mar 30, 2020
Incredibly useful and practical. Professor Schweidel keeps a good pace, and each video is engaging. I have already put everything into practice at work!
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