SlideShare a Scribd company logo
1 of 29
Download to read offline
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Forecasting in Business
Mohammad Tawfik
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
What is forecasting?
●
Forecasting is the process of making
statements about events whose actual
outcomes (typically) have not yet been
observed.
Wikipedia
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Why Forecasting?
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Predicting the future!
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Inventory requirements
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Financial requirements
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Shipping requirements
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Market expectations
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Human resources requirements
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
A good forecast must be ...
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Meaningful
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Reliable
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Accurate
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Timely
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
How?
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Data, Data, Data!
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Naive forecasting
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Judgmental forecasting
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Crowd wisdom
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Weighted averages
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Time regression
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Steps of forecasting
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Determine purpose
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Establish time horizon
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Select technique
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Obtain data
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Forecast!
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Follow up
http://WikiCourses.WikiSpaces.com
http://AcademyOfKnowledge.org
Analysis - Business Engineers
Mohammad Tawfik
Bibliography
●
BUSINESS-PLAN FORECASTING, by Steven D.
Peterson, Peter E. Jaret, Barbara Findlay Schenck
●
Excel Sales Forecasting For Dummies, by Conrad
Carlberg
●
Sales Forecasting: A Practical Guide, by Mark Blessington
●
Sales and Operations Planning The How-To Handbook,
by Thomas F. Wallace and Robert A Stahl
●
Introduction to Financial Forecasting in Investment Analys,
by John Guerard

More Related Content

More from Mohammad Tawfik

Effective Delegation Skills
Effective Delegation SkillsEffective Delegation Skills
Effective Delegation SkillsMohammad Tawfik
 
Business Management - Marketing
Business Management - MarketingBusiness Management - Marketing
Business Management - MarketingMohammad Tawfik
 
Project Management (CAPM) - Integration
Project Management (CAPM) - IntegrationProject Management (CAPM) - Integration
Project Management (CAPM) - IntegrationMohammad Tawfik
 
Project Management (CAPM) - The Framework
Project Management (CAPM) - The FrameworkProject Management (CAPM) - The Framework
Project Management (CAPM) - The FrameworkMohammad Tawfik
 
Project Management (CAPM) - Introduction
Project Management (CAPM) - IntroductionProject Management (CAPM) - Introduction
Project Management (CAPM) - IntroductionMohammad Tawfik
 
Introduction to Wind Energy
Introduction to Wind EnergyIntroduction to Wind Energy
Introduction to Wind EnergyMohammad Tawfik
 
Finite Element for Trusses in 2-D
Finite Element for Trusses in 2-DFinite Element for Trusses in 2-D
Finite Element for Trusses in 2-DMohammad Tawfik
 
Finite Element Analysis of the Beams Under Thermal Loading
Finite Element Analysis of the Beams Under Thermal LoadingFinite Element Analysis of the Beams Under Thermal Loading
Finite Element Analysis of the Beams Under Thermal LoadingMohammad Tawfik
 
FEM: Nonlinear Beam Deflection Model (with Temperature)
FEM: Nonlinear Beam Deflection Model (with Temperature)FEM: Nonlinear Beam Deflection Model (with Temperature)
FEM: Nonlinear Beam Deflection Model (with Temperature)Mohammad Tawfik
 
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...Mohammad Tawfik
 
FEM: Stationary Functional Approach
FEM: Stationary Functional ApproachFEM: Stationary Functional Approach
FEM: Stationary Functional ApproachMohammad Tawfik
 
Newmark Time Integration
Newmark Time IntegrationNewmark Time Integration
Newmark Time IntegrationMohammad Tawfik
 

More from Mohammad Tawfik (20)

Training of Trainers
Training of TrainersTraining of Trainers
Training of Trainers
 
Effective Delegation Skills
Effective Delegation SkillsEffective Delegation Skills
Effective Delegation Skills
 
Train The Trainer
Train The TrainerTrain The Trainer
Train The Trainer
 
Business Management - Marketing
Business Management - MarketingBusiness Management - Marketing
Business Management - Marketing
 
Stress Management
Stress ManagementStress Management
Stress Management
 
Project Management (CAPM) - Integration
Project Management (CAPM) - IntegrationProject Management (CAPM) - Integration
Project Management (CAPM) - Integration
 
Project Management (CAPM) - The Framework
Project Management (CAPM) - The FrameworkProject Management (CAPM) - The Framework
Project Management (CAPM) - The Framework
 
Project Management (CAPM) - Introduction
Project Management (CAPM) - IntroductionProject Management (CAPM) - Introduction
Project Management (CAPM) - Introduction
 
The Creative Individual
The Creative IndividualThe Creative Individual
The Creative Individual
 
Introduction to Wind Energy
Introduction to Wind EnergyIntroduction to Wind Energy
Introduction to Wind Energy
 
Finite Element for Trusses in 2-D
Finite Element for Trusses in 2-DFinite Element for Trusses in 2-D
Finite Element for Trusses in 2-D
 
Future of Drones ITW'16
Future of Drones ITW'16Future of Drones ITW'16
Future of Drones ITW'16
 
Vibration Absorber
Vibration AbsorberVibration Absorber
Vibration Absorber
 
Finite Element Analysis of the Beams Under Thermal Loading
Finite Element Analysis of the Beams Under Thermal LoadingFinite Element Analysis of the Beams Under Thermal Loading
Finite Element Analysis of the Beams Under Thermal Loading
 
FEM: Nonlinear Beam Deflection Model (with Temperature)
FEM: Nonlinear Beam Deflection Model (with Temperature)FEM: Nonlinear Beam Deflection Model (with Temperature)
FEM: Nonlinear Beam Deflection Model (with Temperature)
 
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...
Finite Element Analysis of the Aeroelasticity Plates Under Thermal and Aerody...
 
FEM: Stationary Functional Approach
FEM: Stationary Functional ApproachFEM: Stationary Functional Approach
FEM: Stationary Functional Approach
 
Newmark Time Integration
Newmark Time IntegrationNewmark Time Integration
Newmark Time Integration
 
What is Optimization
What is OptimizationWhat is Optimization
What is Optimization
 
Education: Why? How?
Education: Why? How?Education: Why? How?
Education: Why? How?
 

Recently uploaded

Guide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFGuide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFChandresh Chudasama
 
MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?Olivia Kresic
 
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...ssuserf63bd7
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCRashishs7044
 
APRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfAPRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfRbc Rbcua
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Americas Got Grants
 
Innovation Conference 5th March 2024.pdf
Innovation Conference 5th March 2024.pdfInnovation Conference 5th March 2024.pdf
Innovation Conference 5th March 2024.pdfrichard876048
 
8447779800, Low rate Call girls in Dwarka mor Delhi NCR
8447779800, Low rate Call girls in Dwarka mor Delhi NCR8447779800, Low rate Call girls in Dwarka mor Delhi NCR
8447779800, Low rate Call girls in Dwarka mor Delhi NCRashishs7044
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Kirill Klimov
 
PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationAnamaria Contreras
 
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptx
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptxThe-Ethical-issues-ghhhhhhhhjof-Byjus.pptx
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptxmbikashkanyari
 
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...ssuserf63bd7
 
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Servicecallgirls2057
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyotictsugar
 
business environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxbusiness environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxShruti Mittal
 
Cyber Security Training in Office Environment
Cyber Security Training in Office EnvironmentCyber Security Training in Office Environment
Cyber Security Training in Office Environmentelijahj01012
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckHajeJanKamps
 

Recently uploaded (20)

Guide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDFGuide Complete Set of Residential Architectural Drawings PDF
Guide Complete Set of Residential Architectural Drawings PDF
 
MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?MAHA Global and IPR: Do Actions Speak Louder Than Words?
MAHA Global and IPR: Do Actions Speak Louder Than Words?
 
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
Intermediate Accounting, Volume 2, 13th Canadian Edition by Donald E. Kieso t...
 
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
8447779800, Low rate Call girls in Uttam Nagar Delhi NCR
 
APRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdfAPRIL2024_UKRAINE_xml_0000000000000 .pdf
APRIL2024_UKRAINE_xml_0000000000000 .pdf
 
Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...Church Building Grants To Assist With New Construction, Additions, And Restor...
Church Building Grants To Assist With New Construction, Additions, And Restor...
 
Innovation Conference 5th March 2024.pdf
Innovation Conference 5th March 2024.pdfInnovation Conference 5th March 2024.pdf
Innovation Conference 5th March 2024.pdf
 
8447779800, Low rate Call girls in Dwarka mor Delhi NCR
8447779800, Low rate Call girls in Dwarka mor Delhi NCR8447779800, Low rate Call girls in Dwarka mor Delhi NCR
8447779800, Low rate Call girls in Dwarka mor Delhi NCR
 
Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024Flow Your Strategy at Flight Levels Day 2024
Flow Your Strategy at Flight Levels Day 2024
 
PSCC - Capability Statement Presentation
PSCC - Capability Statement PresentationPSCC - Capability Statement Presentation
PSCC - Capability Statement Presentation
 
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptx
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptxThe-Ethical-issues-ghhhhhhhhjof-Byjus.pptx
The-Ethical-issues-ghhhhhhhhjof-Byjus.pptx
 
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
Horngren’s Financial & Managerial Accounting, 7th edition by Miller-Nobles so...
 
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort ServiceCall US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
Call US-88OO1O2216 Call Girls In Mahipalpur Female Escort Service
 
Corporate Profile 47Billion Information Technology
Corporate Profile 47Billion Information TechnologyCorporate Profile 47Billion Information Technology
Corporate Profile 47Billion Information Technology
 
Japan IT Week 2024 Brochure by 47Billion (English)
Japan IT Week 2024 Brochure by 47Billion (English)Japan IT Week 2024 Brochure by 47Billion (English)
Japan IT Week 2024 Brochure by 47Billion (English)
 
Investment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy CheruiyotInvestment in The Coconut Industry by Nancy Cheruiyot
Investment in The Coconut Industry by Nancy Cheruiyot
 
business environment micro environment macro environment.pptx
business environment micro environment macro environment.pptxbusiness environment micro environment macro environment.pptx
business environment micro environment macro environment.pptx
 
Cyber Security Training in Office Environment
Cyber Security Training in Office EnvironmentCyber Security Training in Office Environment
Cyber Security Training in Office Environment
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deckPitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
Pitch Deck Teardown: Geodesic.Life's $500k Pre-seed deck
 

Business Management - Analysis