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Toward democratize forecasting: Principles of forecasting with R
Wed, 3 May 2017, 09:00 – Fri, 5 May 2017, 17:00 Arabian Standard Time Iraq Time
Toward sustainability: democratise forecasting for decision making
This project aims to ‘train the trainers’ in the form of university students, academics and professionals on the principles of forecasting using R software to support decision making. The ultimate goal of this project is to train 1,000 individuals, over 5 years in 30 countries in the world. The idea is to focus on less favourite regions on the planet such as Africa, Asia and South-America.
Objective of the project:
- To democratize forecasting and provide decision makers with a tool that is effective, valid and reliable to support decisions in organizations
- To provide high quality and up-to-date training in forecasting and data analysis and promote the use of open source tools such as R and RMarkdown
- To promote volunteering among academic staffs and researchers with a focus on less developed countries in Africa, Asia and South-America
This workshop covers a range of forecasting methods often applied in organizations to help decision makers take a better decision by having an estimation of the future. It explains the theoretical background behind them, reveals their strengths and limitations and apply them to produce forecasts using R statistical software as a forecasting tool.
Assuming basic knowledge of statistics and through a step-by-step approach from theory to practice, participants will learn:
The importance of forecasting and its relation to decision making in public organizations, private sector, governments, non-for-profit organizations, etc;
How to prepare data, explore and visualize them using R
The theory behind forecasting models and;
How to use R functions and their packages related to forecasting models;
How to analyze data, produce forecasts and evaluate their accuracy across a range of statistical forecasting models using real-world data;
How to visualize, export and report results for interpretation and insights.