Challenge in Teaching Forecasting Don’t fabricate “real” data Only your instructor can do...
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Challenge in Teaching Forecasting Don’t fabricate “real” data Only your instructor can do that!
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21-Dec-2015 -
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Transcript of Challenge in Teaching Forecasting Don’t fabricate “real” data Only your instructor can do...
Challenge in Teaching Forecasting
Don’t fabricate “real” dataOnly your instructor can do that!
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Forecasting Terminology
Initialization ExPostForecast
Forecast
Historical DataNoHistorical Data
Historical Data
Goals for New Forecasting Material
Have students to understand purpose—predict future Have students to look at data to evaluate models
Have students understand models by practicing forecasting on different sets of data
Method
ABAP Program to create consumption data
Method
ABAP Program creates 3 years of monthly consumption data with the following instructor options: 3 trend values 12 seasonal factors Random variation Outlier point
Consumption Values
Normally, consumptionvalues can only be entered once, becausethe R/3 system updatesthem automatically eachtime a sale is made
Forecasting Exercises
A basic forecasting exercise is available now with a basic ABAP program that loads one set of data
The flexible ABAP program is under development Designed for interactive lab or on-going forecasting practice
Powerpoints, Excel Exercises, Practice problems and Sample exams will be included
We should still teach formulas We should still teach how to program formulas in Excel But, with ERP Technology, we can have students MAKE
forecasts
