We may earn an affiliate commission when you visit our partners.
Dr Prashan S. M. Karunaratne
In this course, we extend your business forecasting expertise from the first two courses of our Business Forecasting Specialisation on Time Series Models and Regression Models. We will explore the role of judgmental forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts using Business Indicators, Subjective Assessment Methods, and Exploratory Methods. For each of these methods, we will look at how we can use Excel to help us in achieving these judgmental forecasts and how Excel can help us visualising our forecast findings. Being judgmental forecasting methods, we will also look at the role of biases in Business Forecasting,
Register for this course and see more details by visiting:
OpenCourser.com/course/riymye/judgmental
Two deals to help you save
Save money when you learn. Here are two deals and offers that may be relevant to this course.
All coupon codes, vouchers, and discounts are applied automatically unless otherwise noted.
Valid until July 14
Coursera Plus Annual
Work toward what's next for your career with access to 10,000+ programs. Discover emerging skills and save.
Up to
40%
off
Get offer
Valid until August 30
Google AI App Builder
Learn how to use Gemini API and API Studio with a three-course series from Google DeepMind
Take
100%
off
Get offer
What's inside
Syllabus
Welcome and Critical Information
In this course, we extend your business forecasting expertise from the first two courses of our Business Forecasting Specialisation on Time Series Models and Regression Models. We will explore the role of judgmental forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts using Business Indicators, Subjective Assessment Methods, and Exploratory Methods. For each of these methods, we will look at how we can use Excel to help us in achieving these judgmental forecasts and how Excel can help us visualising our forecast findings. Being judgmental forecasting methods, we will also look at the role of biases in Business Forecasting,
Read more
Syllabus
Welcome and Critical Information
In this course, we extend your business forecasting expertise from the first two courses of our Business Forecasting Specialisation on Time Series Models and Regression Models. We will explore the role of judgmental forecasting, when more quantitative forecasting methods have limitations, and we need to generate further business insights. We will be exploring some structured methodologies to create judgmental business forecasts using Business Indicators, Subjective Assessment Methods, and Exploratory Methods. For each of these methods, we will look at how we can use Excel to help us in achieving these judgmental forecasts and how Excel can help us visualising our forecast findings. Being judgmental forecasting methods, we will also look at the role of biases in Business Forecasting,
Read more
Traffic lights
Traffic lights
Read about what's good
what should give you pause and
possible dealbreakers
Prerequisites are not required
Builds a strong foundation for beginners
Teaches structured methodologies for judgmental forecasting
Save this course
Create your own learning path.
Save this course to your list so you can find it easily later.
Save
Save
Reviews summary
Practical judgmental forecasting in excel
According to learners, this course offers a highly practical and invaluable extension to business forecasting expertise, particularly when quantitative models have limitations. Students frequently praise the structured methodologies and the incredibly insightful section on biases, finding the Excel applications straightforward and directly applicable to their work. The instructor's clarity and the concluding case study are also highlighted as beneficial. However, some learners note that the Excel exercises can be simplistic, desiring a deeper dive into advanced functions. It builds well on prior courses in the specialization, making it ideal for those seeking to round out their forecasting toolkit.
Builds on previous courses in the specialization.
"A very useful course that builds well on the previous ones in the specialization."
"Make sure you've done the prior courses; this definitely builds on them."
"The course assumes you have done the previous parts of the specialization for a complete understanding."
Instructor is clear, but pacing might be slow for some.
"Instructor explains complex ideas very clearly."
"Instructor's teaching style is engaging. I found the practical tips easy to follow."
"The pacing felt a bit slow at times, and some of the Excel demonstrations seemed overly simplistic."
Provides clear, structured methodologies for forecasting.
"I found the modules on Business Indicators and Subjective Assessment Methods particularly helpful."
"The Delphi Method and Scenario Analysis sections were well-explained. I appreciated the practical tips for avoiding biases."
"The structured approach to methods like Delphi and Sales Force Composite is highly beneficial. The Excel use is pragmatic and effective."
Directly applicable for real-world business forecasting.
"This course was exactly what I needed to round out my forecasting knowledge. The focus on judgmental methods, especially when quantitative models fall short, is highly practical."
"Learning about identifying and mitigating biases is crucial in real-world forecasting. The structured methodologies presented were easy to grasp and implement with Excel."
"Fantastic insights into the qualitative side of forecasting. The attention to biases and how to mitigate them is a standout feature. This course is a valuable addition."
Effective for concepts but simplistic for advanced users.
"I was hoping for more in-depth Excel models beyond basic application. While the judgmental concepts are fine, the course didn't push my Excel skills much further."
"Disappointed with the Excel portion. I expected more sophisticated models or advanced functions. It felt like basic data entry and simple formulas..."
"The content is generally informative, but the Excel usage felt a bit underwhelming. It demonstrates the concepts but doesn't challenge you..."
Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Judgmental Business Forecasting in Excel with these
activities:
Create a Judgmental Forecasting Toolkit
Show steps
Organize your materials to enhance your learning by assembling relevant resources and tools for judgmental forecasting.
Browse courses on
Compilation
Show steps
-
Gather materials from the course modules, such as lecture notes, readings, and practice exercises.
-
Include external resources such as articles, books, and websites on judgmental forecasting.
-
Organize the materials into logical sections or categories.
Review foundational mathematics
Show steps
Reviewing basic mathematical concepts will prepare you for the statistical and analytical methods used in the course.
Browse courses on
Mathematics
Show steps
-
Review algebra fundamentals, including solving equations, inequalities, and systems of equations.
-
Brush up on calculus, including differentiation and integration.
-
Revisit basic statistics, including probability, distributions, and hypothesis testing.
Review of Previous Business Forecasting Course Material
Show steps
Refresh your understanding of time series models and regression models, which are foundational concepts for judgmental forecasting.
Browse courses on
Time Series Models
Show steps
-
Review your notes, assignments, and quizzes from the previous Time Series Models and Regression Models courses.
-
Take practice questions to test your understanding of the material.
Six other activities
Expand to see all activities and additional details
Show all nine activities
Connect with a Judgmental Forecasting Expert
Show steps
Seek guidance and support from an experienced professional who can provide insights and advice on judgmental forecasting.
Browse courses on
Mentorship
Show steps
-
Identify a professional who specializes in judgmental forecasting.
-
Reach out to the professional and request a meeting.
-
Prepare questions and topics for discussion.
-
Meet with the professional and engage in a conversation about judgmental forecasting.
Practice Subjective Assessment Methods
Show steps
Reinforce your understanding of subjective assessment methods, such as the Sales Force Composite Method, Jury of Executive Opinion, and Subjective Probability Assessments.
Show steps
-
Identify a real-world forecasting scenario.
-
Apply the Sales Force Composite Method, Jury of Executive Opinion, and Subjective Probability Assessments to the scenario.
-
Compare and contrast the results.
Attend a Forecasting Workshop
Show steps
Expand your knowledge and network by attending a forecasting workshop where you can interact with experts and practitioners.
Show steps
-
Research and identify a reputable forecasting workshop.
-
Register and pay for the workshop.
-
Attend the workshop and actively participate in discussions.
-
Network with other attendees.
-
Follow up with any contacts you made at the workshop.
Data Visualization for Judgmental Forecasts
Show steps
Strengthen your data visualization skills by creating a collection of graphs, charts, and other visualizations to support your judgmental forecasts.
Browse courses on
Data Visualization
Show steps
-
Identify the key metrics you want to track using judgmental forecasting.
-
Choose appropriate data visualization techniques for each metric.
-
Create clear and concise visualizations using Excel or other tools.
Case Study Analysis: Judgmental Forecasting in Practice
Show steps
Develop your ability to apply judgmental forecasting methods and address biases in a real-world scenario.
Browse courses on
Case study
Show steps
-
Select a case study that involves judgmental forecasting.
-
Identify the appropriate judgmental forecasting method(s).
-
Apply the method(s) to the case study.
-
Analyze the results and identify potential biases.
-
Create a report or presentation summarizing your findings.
Contribute to a Judgmental Forecasting Project
Show steps
Contribute to the broader forecasting community by participating in an open-source project focused on judgmental forecasting.
Browse courses on
Open Source
Show steps
-
Identify an open-source judgmental forecasting project that interests you.
-
Review the project documentation and identify ways you can contribute.
-
Join the project community and connect with other contributors.
-
Make meaningful code contributions, bug fixes, or documentation improvements.
Create a Judgmental Forecasting Toolkit
Show steps
Organize your materials to enhance your learning by assembling relevant resources and tools for judgmental forecasting.
Browse courses on
Compilation
Show steps
Show steps
Show steps
- Gather materials from the course modules, such as lecture notes, readings, and practice exercises.
- Include external resources such as articles, books, and websites on judgmental forecasting.
- Organize the materials into logical sections or categories.
Review foundational mathematics
Show steps
Reviewing basic mathematical concepts will prepare you for the statistical and analytical methods used in the course.
Browse courses on
Mathematics
Show steps
Show steps
Show steps
- Review algebra fundamentals, including solving equations, inequalities, and systems of equations.
- Brush up on calculus, including differentiation and integration.
- Revisit basic statistics, including probability, distributions, and hypothesis testing.
Review of Previous Business Forecasting Course Material
Show steps
Refresh your understanding of time series models and regression models, which are foundational concepts for judgmental forecasting.
Browse courses on
Time Series Models
Show steps
Show steps
Show steps
- Review your notes, assignments, and quizzes from the previous Time Series Models and Regression Models courses.
- Take practice questions to test your understanding of the material.
Six other activities
Expand to see all activities and additional details
Show all nine activities
Connect with a Judgmental Forecasting Expert
Show steps
Seek guidance and support from an experienced professional who can provide insights and advice on judgmental forecasting.
Browse courses on
Mentorship
Show steps
Show steps
Show steps
- Identify a professional who specializes in judgmental forecasting.
- Reach out to the professional and request a meeting.
- Prepare questions and topics for discussion.
- Meet with the professional and engage in a conversation about judgmental forecasting.
Practice Subjective Assessment Methods
Show steps
Reinforce your understanding of subjective assessment methods, such as the Sales Force Composite Method, Jury of Executive Opinion, and Subjective Probability Assessments.
Show steps
Show steps
Show steps
- Identify a real-world forecasting scenario.
- Apply the Sales Force Composite Method, Jury of Executive Opinion, and Subjective Probability Assessments to the scenario.
- Compare and contrast the results.
Attend a Forecasting Workshop
Show steps
Expand your knowledge and network by attending a forecasting workshop where you can interact with experts and practitioners.
Show steps
Show steps
Show steps
- Research and identify a reputable forecasting workshop.
- Register and pay for the workshop.
- Attend the workshop and actively participate in discussions.
- Network with other attendees.
- Follow up with any contacts you made at the workshop.
Data Visualization for Judgmental Forecasts
Show steps
Strengthen your data visualization skills by creating a collection of graphs, charts, and other visualizations to support your judgmental forecasts.
Browse courses on
Data Visualization
Show steps
Show steps
Show steps
- Identify the key metrics you want to track using judgmental forecasting.
- Choose appropriate data visualization techniques for each metric.
- Create clear and concise visualizations using Excel or other tools.
Case Study Analysis: Judgmental Forecasting in Practice
Show steps
Develop your ability to apply judgmental forecasting methods and address biases in a real-world scenario.
Browse courses on
Case study
Show steps
Show steps
Show steps
- Select a case study that involves judgmental forecasting.
- Identify the appropriate judgmental forecasting method(s).
- Apply the method(s) to the case study.
- Analyze the results and identify potential biases.
- Create a report or presentation summarizing your findings.
Contribute to a Judgmental Forecasting Project
Show steps
Contribute to the broader forecasting community by participating in an open-source project focused on judgmental forecasting.
Browse courses on
Open Source
Show steps
Show steps
Show steps
- Identify an open-source judgmental forecasting project that interests you.
- Review the project documentation and identify ways you can contribute.
- Join the project community and connect with other contributors.
- Make meaningful code contributions, bug fixes, or documentation improvements.
Career center
Learners who complete Judgmental Business Forecasting in Excel will develop knowledge and skills
that may be useful to these careers:
Business Analyst
Business Analyst
A Business Analyst is responsible for analyzing an organization's business processes and IT systems to identify areas for improvement. They may also be involved in developing and implementing new systems and processes. This course can help Business Analysts to develop the skills they need to gather and analyze data to make effective business decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Strategy Consultant
Strategy Consultant
A Strategy Consultant is responsible for developing and implementing strategic plans. They may also be involved in advising clients on business decisions. This course can help Strategy Consultants to develop the skills they need to understand the needs of clients and to develop and implement strategic plans that meet those needs. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients and stakeholders.
Operations Research Analyst
Operations Research Analyst
An Operations Research Analyst is responsible for developing and implementing mathematical models to improve the efficiency of business operations. They may also be involved in analyzing data to identify areas for improvement. This course can help Operations Research Analysts to develop the skills they need to gather and analyze data to make effective business decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Financial Analyst
Financial Analyst
A Financial Analyst is responsible for analyzing financial data and making recommendations on investments. They may also be involved in developing and implementing financial models. This course can help Financial Analysts to develop the skills they need to gather and analyze financial data to make sound investment decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients.
Risk Manager
Risk Manager
A Risk Manager is responsible for identifying, assessing, and mitigating risks. They may also be involved in developing and implementing risk management strategies. This course can help Risk Managers to develop the skills they need to identify and assess risks to make effective risk management decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Data Scientist
Data Scientist
A Data Scientist is responsible for collecting, analyzing, and interpreting data to make effective business decisions. They may also be involved in developing and implementing data science models. This course can help Data Scientists to develop the skills they need to gather and analyze data to make sound business decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Data Analyst
Data Analyst
A Data Analyst is responsible for collecting, analyzing, and interpreting data to make effective business decisions. They may also be involved in developing and implementing data analysis models. This course can help Data Analysts to develop the skills they need to gather and analyze data to make sound business decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Statistician
Statistician
A Statistician is responsible for collecting, analyzing, and interpreting data to make effective business decisions. They may also be involved in developing and implementing statistical models. This course can help Statisticians to develop the skills they need to gather and analyze data to make sound business decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Sales Manager
Sales Manager
A Sales Manager is responsible for developing and executing sales strategies. They may also be involved in managing sales teams and resources. This course can help Sales Managers to develop the skills they need to understand the needs of customers and to develop and execute sales strategies that meet those needs. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients and sales teams.
Market Research Analyst
Market Research Analyst
A Market Research Analyst is responsible for conducting research to identify and understand the needs of customers. They may also be involved in developing and implementing marketing campaigns. This course can help Market Research Analysts to develop the skills they need to gather and analyze data to make effective marketing decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients.
Product Manager
Product Manager
A Product Manager is responsible for developing and managing a product. They may also be involved in marketing and sales. This course can help Product Managers to develop the skills they need to understand the needs of customers and to develop and market products that meet those needs. It can also help them to develop the communication and interpersonal skills necessary to work effectively with cross-functional teams.
Project Manager
Project Manager
A Project Manager is responsible for planning, executing, and closing projects. They may also be involved in managing teams and resources. This course can help Project Managers to develop the skills they need to plan and execute projects effectively. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Economist
Economist
An Economist is responsible for studying the economy and making predictions about its future. They may also be involved in developing and implementing economic policies. This course can help Economists to develop the skills they need to analyze economic data to make sound economic predictions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with stakeholders.
Financial Planner
Financial Planner
A Financial Planner is responsible for helping clients plan for their financial future. They may also be involved in investing and managing client assets. This course can help Financial Planners to develop the skills they need to analyze financial data and make sound investment decisions. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients.
Insurance Agent
Insurance Agent
An Insurance Agent is responsible for selling and servicing insurance policies. They may also be involved in providing advice on insurance coverage. This course can help Insurance Agents to develop the skills they need to understand the needs of clients and to recommend and sell insurance policies that meet those needs. It can also help them to develop the communication and interpersonal skills necessary to work effectively with clients.
For more career information including salaries, visit:
OpenCourser.com/course/riymye/judgmental
Reading list
We've selected 11 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Judgmental Business Forecasting in Excel.
Provides a comprehensive overview of business forecasting methods, including both quantitative and qualitative methods. It good resource for anyone who wants to learn more about business forecasting.
Save
Provides a comprehensive overview of forecasting methods, including both quantitative and qualitative methods. It good resource for anyone who wants to learn more about forecasting.
Provides a comprehensive overview of judgmental forecasting methods. It good resource for anyone who wants to learn more about judgmental forecasting.
Provides a detailed overview of the role of judgment in managerial decision making. It good resource for anyone who wants to learn more about the psychology of judgment and decision making in a business context.
Save
Provides a detailed overview of the Delphi method, a structured group judgment technique. It good resource for anyone who wants to learn more about the Delphi method.
Save
Provides a detailed overview of the two systems of thinking: System 1, which is fast, intuitive, and emotional, and System 2, which is slow, deliberate, and rational. It good resource for anyone who wants to learn more about the psychology of judgment and decision making.
Provides a detailed overview of the irrational forces that shape our decisions. It good resource for anyone who wants to learn more about the psychology of judgment and decision making.
Provides a detailed overview of the challenges that established firms face when competing with new technologies. It good resource for anyone who wants to learn more about innovation.
This journal publishes articles on a wide range of topics related to judgment and decision making, including forecasting. It good resource for anyone who wants to learn more about the psychological aspects of forecasting.
Save
This journal publishes articles on a wide range of forecasting topics. It good resource for anyone who wants to stay up-to-date on the latest research in forecasting.
This journal publishes articles on a wide range of business topics, including forecasting. It good resource for anyone who wants to stay up-to-date on the latest research in forecasting.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/riymye/judgmental
Share
Similar courses
Similar courses are unavailable at this time. Please try again later.
Rating
4.5
Effort
10 hours to complete
Level
Intermediate
Via
Coursera
Institution
Macquarie University
Instructor
Dr Prashan S. M. Karunaratne
Language
English
Transcripts
Español
Français
Português
Deutsch
Italiano
中文
العربية
한국어
日本語
हिंदी
Nederlands
Svenska
Pусский
Türkçe
Polski
Ελληνικά
українська мова
Bahasa Indonesia
ไทย
қазақша
tiếng Việt
This course belongs to a
collection
called
Excel Skills for Business Forecasting. It's comprised of three courses:
- Excel Time Series Models for Business Forecasting
- Judgmental Business Forecasting in Excel (viewing)
- Excel Regression Models for Business Forecasting
Our mission
OpenCourser helps millions of learners each year. People visit us to learn workspace skills, ace their exams, and nurture their curiosity.
Our extensive catalog contains over 50,000 courses and twice as many books. Browse by search, by topic, or even by career interests. We'll match you to the right resources quickly.
Find this site helpful? Tell a friend about us.
Affiliate disclosure
We're supported by our community of learners. When you purchase or subscribe to courses and programs or purchase books, we may earn a commission from our partners.
Your purchases help us maintain our catalog and keep our servers humming without ads.
Thank you for supporting OpenCourser.
© 2016 - 2025 OpenCourser