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This assessment seeks to simulate a real - world task that you may have to undertake in the future. Therefore , the assignment is non
This assessment seeks to simulate a realworld task that you may have to undertake in the future. Therefore the assignment is nonprescriptive and requires you to pose a relevant, small, creative and significant forecasting problem to solve that could result in benefits to the organisation g choice. In this assessment, you need to consider an organisation in an industry of your choice and articulate the steps this organisation needs to take to enable forecasting for datadriven decision making. You are required to source an example time series to demonstrate expected forecasting outcomes. It will be much easier to pose a realistic scenario if you are familiar with the organisation and industryThe report should address:The organisation you have chosen and your familiarity with its business. Why forecasting would help this organisation given their current operations. o The time series you have sourcedThe forecasting technique you would recommend, with your reasons for doing soBut you are NOT EXPECTED TO fit other forecasting models and compare error statistics; or to compare training and test error statistics.The results of applying your chosen technique to your time series, including visual display and the actual forecast.The benefits of this forecasting project for the organisation The benefit could be financial, such as Return on Investment ROI or societal benefits
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