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Forecast Value Added Analysis

  • Tuition USD $825
  • Reviews star_rate star_rate star_rate star_rate star_half 486 Ratings
  • Course Code BFVA
  • Duration 1 day
  • Available Formats Classroom

Forecast Value Added (FVA) is the change in a forecasting performance metric (such as MAPE or bias) that can be attributed to a particular step or participant in the forecasting process. FVA analysis is used to identify those process activities that are failing to make the forecast better (or may even be making it worse). This course provides step-by-step guidelines for conducting FVA analysis to identify and eliminate the waste, inefficiency, and worst practices in your forecasting process. The result can be better forecasts, with fewer resources and less management time spent on forecasting.

Skills Gained

  • map your forecasting process
  • gather, organize, and store required data
  • determine the volatility and forecastability of your demand patterns
  • visualize the data
  • create the "comet chart" relating forecast accuracy to volatility
  • analyze the data using simple methods from statistical process control
  • identify worst practices and other non-value adding activities
  • report FVA results
  • communicate results to management
  • eliminate wasted efforts and streamline your forecasting process
  • set reasonable forecasting performance objectives and expectations.

Who Can Benefit

  • Forecasters, demand planners, and business analysts in any industry, as well as managers overseeing the business forecasting function

Prerequisites

  • Before attending this course, you should know very basic statistical concepts like mean and standard deviation, randomness, and variability.

Course Details

Introduction

  • key ideas

Fundamental Issues in Business Forecasting

  • introduction
  • fundamental issues and worst practices in applied forecasting
  • how not to excel at forecasting
  • forecastability

Forecast Value Added Analysis

  • what is forecast value added?
  • why use FVA analysis?
  • communicating the results
  • FVA in industry

FVA Analysis: Practical First Steps

  • first steps in implementing an FVA analysis
  • volatility and forecastability assessment
  • performance expectations and objectives
  • reporting methods

Lean Approach to Forecasting

Bibliography

Sample SAS Code for Creating FVA Report

How do I enroll?

A comprehensive listing of ExitCertified courses can be found here. You can register directly for the required course/location when you select "register". If you have any questions or prefer to speak with an ExitCertified education consultant directly, please submit your query here. A representative will contact you shortly.

How do I pay for a class?

You can pay at the time of registration using credit card (Mastercard/Visa/American Express) cheque or PO.

What if I have training credits?

ExitCertified honors all savings programs from the partners we work with. ExitCertified also offers training credits across multiple partners through our FLEX Account.

When does class start/end?

Classes begin promptly at 9:00 am, and typically end at 5:00 pm.

Lunchtime?

Lunch is normally an hour long and begins at noon. Coffee, tea, hot chocolate and juice are available all day in the kitchen. Fruit, muffins and bagels are served each morning. There are numerous restaurants near each of our centers, and some popular ones are indicated on the Area Map in the Student Welcome Handbooks - these can be picked up in the lobby or requested from one of our ExitCertified staff.

How can someone reach me during class?

If someone should need to contact you while you are in class, please have them call the center telephone number and leave a message with the receptionist.

What languages are used to deliver training?

Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.

The course is perfectly designed with material and labs to get hands on experience on AWS, nicely done!

Es recomendable, pero no puedo hablar sobre todos los cursos, solo el que tome que fue el de Spark trainning, en especifico ese curso, estuvo muy bueno, la verdad.

Its really nice to have the snacks available everyday. The staff is courteous and professional.

The course had a balanced structure with labs that helped supplement the learning material and it was incredibly beginner friendly.

An excellent course for beginners looking to take their Cloud practitioner exam and getting the fundamental knowledge about AWS

0 options available

There are currently no scheduled dates for this course. If you are interested in this course, request a course date with the links above. We can also contact you when the course is scheduled in your area.

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