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This course prepares participants to make more accurate financial forecasts in standard generally accepted accounting principles (GAAP) format financial statements by using business intelligence (BI). Particular focus is placed on the difference between conventional financial forecasts based on simple growth assumptions, and financial forecasts using growth rates derived from data. The course is intended as an applied primer in forecasting using new techniques resulting from the growth in Big Data and BI techniques.

***Please download and open all supporting materials before starting the course videos.***

Learning Objectives

  • Discover how to create a basic set of income statement, cash flow, and balance sheet forecasts
  • Recognize the linkages between different items across the financial statements
  • Identify how changes in growth assumptions impact financial forecasts
  • Explore how to use regression analysis to determine forecast growth rates using outside variables (e.g. Gross Domestic Product (GDP) and inflation)
Last updated/reviewed: October 24, 2018

Included In Certifications

This course is included in the following Certification Programs:

15 CoursesCDAP (Certified Data Analyst Professional)

  1. The Fundamentals of Business Intelligence (BI): What it Does and Why it's so Essential
  2. How is Industry Using Big Data? – A Case Study Reading
  3. Business Intelligence - Data Collection and Cleaning
  4. Business Intelligence - Structuring Data for Analysis
  5. Business Intelligence - Fundamentals of Data Analysis
  6. Business Intelligence - Using Big Data Analytics
  7. Doing Data Analytics In Excel (Hands-on module)
  8. Regressions in Excel (Hands-on module)
  9. Financial Forecasting
  10. Advanced Analytics – Omitted Variables
  11. Advanced Analytics – Fixed Effects
  12. Case Study in Data Analytics
  13. Using Regressions for Forecasting
  14. Financial Forecasting in Excel (Hands-on module)
  15. Blockchain for Business

30 Reviews (202 ratings)Reviews

5
Anonymous Author
The instructor was concise and to the point and used samples to illustrate his point. I like how this class is specifically only discusses the methodology and the principle behind regression. Can't wait to watch the Excel class of actual forecast modeling based on regression.
5
Anonymous Author
The instructor was concise and to the point and used samples to illustrate his point. I like how this class is specifically only discusses the methodology and the principle behind regression. Can't wait to watch the Excel class of actual forecast modeling based on regression.
5
Anonymous Author
The material was straight forward, and well explained. super helpful for anyone trying to build a forecasting model. I was not sure about where to start, but from watching the sales example, I am confident building a revenue forecast model for my internship.
4
Anonymous Author
For not having been in data/statistics for a good number of years, the presenter broke it down in a relatively easy to understand fashion without losing me in the weeds of all the mathematics. Great introductory course.
4
Anonymous Author
Straightforward course and covered the material. It felt like this unit should be closer to the beginning of the CDAP program because some of the topics were covered earlier.
4
Anonymous Author
The course was a useful basic course covering forecasting and different regressions. It did seem to be highly repetitive of the earlier courses in this certification though.
5
Anonymous Author
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5
Anonymous Author
Overall good. Some repetition from prior courses but actually this one pulled together the earlier concepts and made them more relevant.
4
Member's Profile
A good overview course. I would have appreciated just a bit more info about how to interpret standard errors, t stats, p values, etc.
4
Anonymous Author
This is a good overview. I wish there were a lot more time allotted to the use and example of different methods named in the course.
5
Member's Profile
Nice introduction to using regression for financial forecasting. Really appreciated that the instructors quick pace.
5
Anonymous Author
Michael was clear and concise in his delivery and I was able to follow along with ease and enjoyment.
5
Anonymous Author
Used the excel examples and brought me back to statistics courses taken in continuing education.
4
Anonymous Author
This course was informative and provided the basics beyond using regressions for forecasting.
5
Member's Profile
Great stuff as always, Michael. Loved the interactive nature of the video and the instruction.
5
Anonymous Author
good course. I would recommend this course. This course covers topics and explains each.
4
Member's Profile
Good overview of the types of analysis tools and examples for using regression analysis.
5
Anonymous Author
Great class, pretty easy to navigate and follow along. would recommend to a colleague.
4
Anonymous Author
I like the use of numerous examples. The extensive use of graphics is also helpful.
5
Member's Profile
Great course, always insightful content. Learned a bunch of new regression material
4
Anonymous Author
I am really interested in learning how to apply these methods to my organization.
5
Anonymous Author
Course was informative and easy to navigate. I would recommend it to a colleague.
5
Anonymous Author
this course had good material attached and was helpful in refreshing my memory
4
Anonymous Author
Great overview of regression, its output, and how it can be applied.
4
Anonymous Author
I didn't find the slides to be as effective for this video and topic
5
Anonymous Author
I thought this course was extremely informative. Really enjoyed it.
4
Anonymous Author
Great "real-life" descriptions of complex mathematical concepts
4
Anonymous Author
This course was great. The material was clear to understand.
5
Member's Profile
Everything about this course was absolutely fantastic.
4
Anonymous Author
Good intro to basic statistical forecasting concepts.

Prerequisites

Course Complexity: Intermediate

Viewers should be familiar with basic financial and accounting concepts. At this point, participants in this course should be comfortable with gathering data, building databases, and running analyses.

Suggested Prior Coursework: 

Business Intelligence (BI) - The fundamentals of BI; What it does and why it's so essential

Business Intelligence – Collecting, Cleaning, and Merging Data

Business Intelligence - Structuring Data for Business Analysis

Business Intelligence – Fundamentals of Data Analysis

Business Intelligence – Using Data Analysis

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  10:19Introduction to Using Regression for Forecasting & Module 1: Forecasting Methods
  4:40Module 2: Traditional Forecasting
  15:43Module 3: Regressions in Business
  12:48Module 4: Predictions with Regression
  10:40Module 5: Predictions Step-By-Step and Conclusion
CONTINUOUS PLAY
  54:10Using Regressions for Forecasting
SUPPORTING MATERIALS
  PDFSlides: Using Regressions for Forecasting
  PDFUsing Regressions for Forecasting Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM