The training course Forecasting with BoFiT offers a systematic and well-grounded introduction to BoFiT Forecast. After an overview over the various forecasting procedures, new users and upgraders will learn how forecasts are set up, analyzed and used in day-to-day operations. The theoretical knowledge acquired is consolidated by practical exercises.
Overview over the BoFiT forecasting module
- Introduction and user concept for forecasting procedures
- Profiles, updating, regression, artificial neural networks
- Strengths and weaknesses
- Areas of application
- Processes in the ARIMAX family (AR, SAR, MA, SMA, ARMA, …, SARIMA, ARIMAX, SARIMAX)
Selecting forecasts and developing models
- Approach to selection and development of models
- Cost-benefit analysis
- Time series analyses (spectrum analysis, correlation analysis)
- Sensitivity analysis
- Evaluating the quality of forecasts
- Interpreting statistical values
Forecasting processes in daily operations
- Tasks of forecasting in companies in the energy industry
- Automating forecasting processes
The training course Forecasting with BoFiT is intended for all forecasting specialists and managers who wish to create their own forecasts or further improve them. Entry-level users and upgraders in particular will benefit from a systematic introduction to working with the forecasting solution from ProCom.
The training course language will be english.