Forecast Value Added Analysis
Business Knowledge Series course
Presented by Michael Gilliland, author of The Business Forecasting Deal and Product Marketing Manager for SAS forecasting software, SAS; or Chip Wells, Ph.D., Manager, Analytical Education, Education Division, SAS
Forecast Value Added (FVA) is the change in a forecasting performance metric (such as MAPE or bias) that can be attributed to a particular step or participant in the forecasting process. FVA analysis is used to identify those process activities that are failing to make the forecast better (or may even be making it worse). This course provides step-by-step guidelines for conducting FVA analysis to identify and eliminate the waste, inefficiency, and worst practices in your forecasting process. The result can be better forecasts, with fewer resources and less management time spent on forecasting.
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Before attending this course, you should know very basic statistical concepts like mean and standard deviation, randomness, and variability.