The National Truck Equipment Association (NTEA) is conducting a Market Forecasting Seminar for industry professionals who have marketing and/or market research responsibilities within their companies on Jan. 8, 2008 from 9 a.m.-4 p.m. at the Embassy Suites Hotel Chicago-O'Hare Rosemont (Rosemont, IL).
Creating and updating forecasts that are an integral part of a company's market and corporate plans can be time-consuming and stressful, especially for those who forecast the old-fashioned way by polling sales staff, distributors, customers and end-users. While this forecast creation process can produce useful results, it is not easy to quantify. There is another way.
Using Microsoft Excel (or any other spreadsheet or statistical software), a forecast can be created that relies on hard data and a mathematical technique called "multiple regression." Using the regression feature built into Excel is easy, and the NTEA's Market Forecasting Seminar is designed to walk you through this process. Once you learn how to create a model using multiple regression, you will find that updating your forecasts is extremely simple.
Seminar attendees will learn the multiple regression forecast process, which includes a review of leading indicator data sources, how to relate leading indicators to sales data and how to use leading indicators to create a forecast model of sales data.
Call Steve Latin-Kasper, NTEA director of market data and research, at (414) 294-3408, or e-mail [email protected].