Demand Analytics from Coursera

Welcome to Demand Analytics - one of the most sought-after skills in supply chain management and marketing!

Through the real-life story and data of a leading cookware manufacturer in North America, you will learn the data analytics skills for demand planning and forecasting. Upon the completion of this course, you will be able to

1. Improve the forecasting accuracy by building and validating demand prediction models.

2. Better stimulate and influence demand by identifying the drivers (e.g., time, seasonality, price, and other environmental factors) for demand and quantifying their impact.

AK is a leading cookware manufacturer in North America. Its newly launched top-line product was gaining momentum in the marketplace. However, a price adjustment at the peak season stimulated a significant demand surge which took AK completely by surprise and resulted in huge backorders. AK faced the risk of losing the market momentum due to the upset customers and the high cost associated with over-time production and expedited shipping. Accurate demand forecast is essential for increasing revenue and reducing cost. Identifying the drivers for demand and assessing their impact on demand can help companies better influence and stimulate demand.

I hope you enjoy the course!

What's inside

Syllabus

Welcome!

Welcome to the exciting world of Demand Analytics! In Week 1, you will learn the crisis that AK MetalCrafters, a leading cookware manufacturer in North America, faced in launching new products, and how AK successfully resolved the crisis using Demand Analytics. You will also learn the general principles of demand planning and forecasting, and how it fits into a firm's integrated business planning.

Predicting Trend

Welcome to Week 2 of Demand Analytics! In Week 1, you learned the general principles, now in Week 2, you will put them to action by building and interpreting a linear model for predicting the trend (as in new product introduction). You will also learn data collection, pre-processing and visualization techniques, which are critical to model building.

Predicting the Impact of Price and Other Environmental Factors

Welcome to Week 3 of Demand Analytics! In Week 2, you built a linear model to predict the trend. In this week, you will validate and improve the model by first analyzing its errors to identify missing variables and then building a multiple regression model to capture not only the trend but also the impact of price and other environmental factors.

Predicting Seasonality

In this last week of Demand Analytics, you will further improve your demand forecasting model built in Week 3 by including seasonality to capture the periodic patterns in the errors; you will learn how to model and format categorical variables, and how to create and test your forecast.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Exposes learners to real-life case studies, which is foundational in developing industry-leading skills

Guides learners in building demand prediction models, which is a core skill for supply chain management and marketing professionals

Emphasizes identifying demand drivers and quantifying their impact, which is crucial for effective demand stimulation and forecasting

Builds a strong foundation in data analytics, which is highly relevant to professionals in various fields

Taught by instructors with expertise in demand analytics, who can provide valuable insights and guidance

Provides hands-on experience in demand forecasting and modeling, which is beneficial for practical application

Reviews summary

Demand planning and forecasting

According to students, this course provides a strong foundation for demand planning and forecasting, especially if you are new to the field. Learners say the course is well structured with clear explanations. Students report enjoying the hands-on projects that use real-world datasets from companies and industries. Learners give mixed feedback on the course content. Some students report that the course is basic and not in-depth enough, while others report that the course is challenging enough for beginners and is a good review for those with prior experience. Some students indicate they were able to apply what they learned in this course to their jobs.

Focuses on using practical, real-world examples.

"Used this method practically line by line in my job at a large tech company to project internal request growth."

"This course is particularly helpful and practical in terms of demand planning."

"The examples run in Excel (data analysis/forecasting tool), but I implemented it in Python as well (at my own risk)."

Includes applied, hands-on projects to reinforce learning.

"Very well designed class. With one project progressively explained, the instructor teaches you 1. the concepts. 2. the standard. 3. the process."

Appropriate for those with little to no experience in demand analytics or forecasting.

"Very helpful course for beginners"

"Was expecting a bit more advanced techniques for forecasting demand. However, it's a great course for a beginner."

"This course if good for beginners to get understanding of forecasting techniques."

Some learners say the content could be more robust.

"could have been more in depth its very basic"

"Good content and learning of basic concepts.."

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 Demand Analytics with these activities:

Model Prediction on Data (Linear Regression)

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Practice your linear regression skills by modeling demand predictions based on data.

Browse courses on Linear Regression

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Collect data on demand and influencing factors
Build a linear regression model using the data
Validate the model by comparing it to actual demand data

Time Series Analysis Project

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Develop your time series forecasting skills by building a project that analyzes demand data.

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Identify a historical dataset of demand data
Apply time series decomposition techniques to identify trends, seasonality, and residuals
Build a time series forecasting model

Show all two activities

Career center

Learners who complete Demand Analytics will develop knowledge and skills that may be useful to these careers:

Demand Planner

Demand Planners are responsible for forecasting demand for products and services. They use a variety of techniques, including statistical analysis and market research, to develop forecasts that can help businesses plan their production and marketing strategies. The skills you will learn in this course will help you develop the forecasting skills you need to be successful in this role.

See salaries and explore the career path for Demand Planner

Data Scientist

Data Scientists are responsible for developing and applying statistical models to data to solve business problems. They use a variety of techniques, including machine learning and artificial intelligence, to build models that can predict future outcomes or identify new opportunities. The skills you will learn in this course will help you build a strong foundation in data science, which is essential for success in this role.

See salaries and explore the career path for Data Scientist

Statistician

Statisticians are responsible for collecting, analyzing, and interpreting data. They use a variety of techniques, including statistical modeling and data visualization, to develop insights that can help businesses make informed decisions. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

See salaries and explore the career path for Statistician

Supply Chain Analyst

Supply Chain Analysts are responsible for analyzing supply chain data to identify inefficiencies and opportunities for improvement. They use a variety of techniques, including data analysis and modeling, to develop insights that can help businesses improve their supply chain performance. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

See salaries and explore the career path for Supply Chain Analyst

Operations Research Analyst

Operations Research Analysts are responsible for developing and applying mathematical models to solve business problems. They use a variety of techniques, including optimization and simulation, to develop models that can help businesses improve their efficiency and profitability. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

See salaries and explore the career path for Operations Research Analyst

Data Analyst

Data Analysts are responsible for collecting, cleaning, and analyzing data to identify trends and patterns. They use their findings to make recommendations to businesses on how to improve their operations or marketing strategies. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

See salaries and explore the career path for Data Analyst

Sales Analyst

Sales Analysts are responsible for analyzing sales data to identify trends and patterns. They use a variety of techniques, including data analysis and visualization, to develop insights that can help businesses improve their sales performance. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

See salaries and explore the career path for Sales Analyst

Risk Analyst

Risk Analysts are responsible for identifying and assessing risks to businesses. They use a variety of techniques, including data analysis and modeling, to evaluate the likelihood and impact of risks. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

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Market Researcher

Market Researchers are responsible for collecting and analyzing data on consumer behavior. They use a variety of techniques, including surveys, focus groups, and data analysis, to identify trends and patterns in consumer behavior. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

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Systems Analyst

Systems Analysts are responsible for analyzing and designing computer systems. They work with a variety of stakeholders, including users, business analysts, and developers, to develop systems that meet the needs of the business. The skills you will learn in this course will help you develop the data analysis skills you need to understand business requirements and design effective systems.

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Business Analyst

Business Analysts are responsible for identifying and analyzing business needs, and then developing solutions to meet those needs. They use a variety of tools and techniques to collect and analyze data, including statistical analysis, data mining, and predictive modeling. The skills you will learn in this course will help you build a strong foundation in data analysis, which is essential for success in this role.

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Product Manager

Product Managers are responsible for managing the development and marketing of products. They work with a variety of stakeholders, including engineers, designers, and marketers, to bring products to market. The skills you will learn in this course will help you develop the data analysis skills you need to understand customer demand and make informed decisions about product development and marketing.

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Financial Analyst

Financial Analysts are responsible for analyzing financial data to make recommendations to businesses on investment decisions. They use a variety of techniques, including financial modeling and data analysis, to evaluate the financial performance of companies and make recommendations on how to improve their profitability. The skills you will learn in this course will help you develop the data analysis skills you need to be successful in this role.

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Project Manager

Project Managers are responsible for planning, executing, and closing projects. They work with a variety of stakeholders, including team members, clients, and vendors, to ensure that projects are completed on time and within budget. The skills you will learn in this course will help you develop the data analysis skills you need to track project progress and make informed decisions about project management.

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