Seminar on Business Forecasting at IIM Kozhikode
The participants of this program will require basic knowledge of econometrics and statistics, acquired through either formal training or job experience. Participants, who have no exposure to data-based inference, will find this program a good place to start practicing hands-on analysis and estimation of data using relevant software. Managers who are already making qualitative and quantitative inference from various types of data will also find this program helpful in making their business decision-making systems capable of handling an extensive range of economic data-generating processes.
Residential - Rs.28500 + Service Tax 12.36%
Non Residential - Rs.23000 + Service Tax 12.36%
Last Date: 23 May 2012
Prof. Kausik Gangopadhyay
How would the sale of a companys product change in the face of booms and recessions? What exactly is the role of the past sales in determining the future sales? How exactly do the mathematical forecasting tools predict the future sales? How would a manager infer the monthly and seasonal fluctuations in sales? How would a manager decide on the rate of growth of the company in a booming trajectory? What is exactly special about the financial data in high frequency? What kind of tools is required for the financial sectors? Answers to these questions require good understanding of econometrics in the context of time series techniques. Managers of the business world are often asked to make qualitative and quantitative inference from various types of time series data. A successful business strategy would come when there is the basic understanding of the objective prediction coming out of the data. In the modern business world, it is becoming of more and more significance to use the state of the art mathematical and statistical model to analyse data. These highly powerful models essentially supplement one with the subjective knowledge of the domain.
The key objective of this program is to familiarize managers with the various techniques of time series with a focus towards forecasting in the context of business applications. In this program we will use our knowledge of econometrics to understand the data structure and show how econometrics techniques can be used to make rigorous inference from these data structures. This knowledge is going to serve as a vital component of the skill set that our participants are going to carry forward in their pursuit to becoming leaders of our business world.
- Basic ordinary least square regression: Prospects and problems
- Time series data: an introduction
- Secular trend and seasonality: De-trending and smoothing techniques
- Stationary and non-stationary time-series
- AR, MA and ARMA processes: Box-JenkinsMethodology
- Integrated processes of order one and more: ARIMA models
- Cointegration and spurious regression
- Vector Error Correction methods
- Financial time series: ARCH and GARCH models
Indian Institute of Management Kozhikode,
IIMK Campus P. O.,
Kozhikode 673 570, Kerala , India
Phone: +91-495-2809208, Mobile: 9447100539
Fax : +91-495-2809370, 2803010 and 2803011
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