Information Worker Course IW 4002: Forecasting and Trend Analysis
Using Microsoft Office Excel 2003
1/2 day Instructor-Led Course per Level (4 hours)
Introduction
Microsoft Excel is the spreadsheet program most commonly used by
financial analysts, project managers, academics, and small
business owners around the world to track and analyze business
and personal data. Because of the increasing demands on their
time, business professionals need to learn efficient and
effective data forecasting methods that give them the answers
they need. This course will provide experienced Excel users with
a practical, hands-on understanding of advanced Excel data
forecasting and charting techniques. It examines the risks and
benefits of forecasting, teaches different forecasting and
trending methods, and explores ways to maximize profit
potential.
Audience
This course is designed for experienced Microsoft Excel users,
including project managers, financial analysts, accountants,
business owners, and other business professionals who have a
vested interest in forecasting trends at the industrial,
corporate, and project levels. This audience uses Excel on a
regular basis and has no difficulty creating formulas, charts,
and cell formats.
At Course Completion
After completing this course, students will be able to:
• Describe the role data forecasting plays in organizational
planning.
• Identify the positive and negative aspects of data
forecasting.
• Create formula-based data forecasts.
• Define best, middle, and worst case scenario data.
• Establish target values using Goal Seek.
• Calculate moving averages.
• Chart moving averages interactively.
• Calculate Net Present Value and Internal Rate of Return.
• Define and solve problems in Solver.
Prerequisites:
Before attending this course, students must have:
• Experience with analyzing business data to make decisions
about products, projects, and strategic direction.
• The ability to use Excel to create formulas, including
advanced formulas using the Insert Function dialog box.
• The ability to create line graphs and column charts from Excel
data.
• Familiarity with named ranges (for example, abbreviations that
replace cell addresses, such as C3:D15, with nicknames such as
AllSales).
Previous Software Versions: MS Office XP, 2002, 2000
Course Outline: |
Module 1: The Risks and Benefits of Forecasting Data
This module introduces the risks and benefits of data
forecasting both in general and in the context of your business
environment.
Topics and Activities
• What Is Data Forecasting?
• The Business Needs for Data Forecasting
• Summary of the Risks and Benefits of Data Forecasting
After completing this module, students will be able to:
• Describe the data forecasting process.
• Identify the business needs that data forecasting addresses.
• Summarize the risks and benefits of data forecasting. |
Module 2: Creating Formula-Based Forecasts
This module introduces the FORECAST formula, a versatile Excel
function that you can use to create data forecasts; scenarios,
which enable you to define best-case, middle-case, and
worst-case data scenarios; and Goal Seek, an Excel tool that
enables you to find the inputs required to make a formula
generate a desired result.
Topics and Activities
• Three Formula-Based Forecasting Resources
• Walkthrough: Creating Forecasts from Existing Data
• Demonstration: Analyzing Data by Using Goal Seek
• Exercise: Establishing Targets by Using Goal Seek
• Tips and Tricks for Formula-Based Forecasts
After completing this module, students will be able to:
• Build a FORECAST formula.
• Create forecasts based on best-case, middle-case, and
worst-case scenarios.
• Establish target values by using Goal Seek.
• Implement tips and tricks for formula-based forecasts.
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