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What actions will customers take in the future? What will be the level of demand for our products and services? What quantity of inventory should we order for the upcoming season? Marketers must understand how their actions can shape future behaviour rather than simply forecasting what customers will do. Learners will gain 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 in Developing Forecasting Tools with Excel. All of this is done in Microsoft Excel, ensuring that students can apply their knowledge to their own business problems.
Syllabus :
1. Basics of Forecasting Models
- Approaches to Forecasting
- Regression - Based Modeling
- Examining the Residuals
- Assessing Forecasting Performance
2. Customer Analytics: Predicting Individual Customer Behavior
- How to Use Customer Centric Analytics
- Business Decisions Drive Customer Choices
- Illustrating Customer Acquisition in Excel
- Timing Models in Marketing
- Model for Retention Excel Demonstration
- Kiwi Bubbles Exercise Excel Demonstration
3. Managing Customer Equity: Linking Customer Analytics to Customer Value
- Managing Customer Equity
- Acquisition, Retention, & Market Value
- Customer Valuation
- Marketing to New & Current Customers
4. Marketing Mix Modeling
- In this module, we will build a series of regression models to evaluate the impact of the brand’s actions and competitors’ actions.
