Business Forecasting IS-FM-00077W

Description:
The introduction of forecasting theory. The role of forecasts in business practise. Methods of business data gathering and transforming. Time series decomposition. Various kinds of forecasts methods: naive method and its modifications, moving average methods, exponential smoothing methods, Holt�s method, Holt-Winters� method. Measuring forecast accuracy. Time series forecasting. Advanced forecasting models. Forecasting versus foresight. Foresight methods. The use of foresight methods in Polish and international practise.

Requirements:
The subject is designed to get the students acquainted with the modern knowledge of forecasting and its possible way of practical applications by managers.