Forecasting and simulation KSU01041

Course content:
Basics of the theory of forecasting. The role of forecasting in business production company. The collection of business information, its analysis and formulation of conclusions. Prognostic data, recording and verification. Classification of predictions. Different methods of forecasting, their advantages and disadvantages. The process of building forecasts using different methods. Simple and advanced models in the forecasting process. Measures of admissibility formulated predictions. Evaluation of forecasting accuracy. Forecasting based on time series.

Learning outcomes:
Gaining knowledge necessary to formulate independently theoretical assumptions and processing information and solving the tasks of predictive forecasting. Knowledge of forecasting methods used in business production practice.