About the Course

About the Course

Forecasting Analytics (FCAS, formerly BSFC) is a post-graduate elective course offered at Indian School of Business. Forecasting describes the act of generating predictions of future values or events. Quantitative forecasting, which focuses on data for generating numerical forecasts, is an important component of decision making in a wide range of areas and across many business functions, including economic forecasting, workload projections, sales forecasts and transportation demand.

This course focuses on forecasting time series, where past and present values are used to forecast future values of a series of interest. The course covers issues relating to different steps of the forecasting process, from goal definition, through data visualization, modeling, and performance evaluation to model deployment.

This is a hands-on course, driven by a business forecasting project that will encapsulate the different steps of practical forecasting. We use real datasets, commerical software (Spotfire and XLMiner), and the textbook Practical Time Series Forecasting.

During the course, students work in teams on solving a business problem of their choice, using forecasting tools and applying them to real data. Take a look at presentations and brief reports for some projects of past students.

Familiarity with business analytics is highly sought-after in today's competitive market. This course will give you an appreciation and experience in deriving value from data.

Course veterans can join the LinkedIn Group. You're also welcome to visit Prof. Galit's blog on Business, Technology and Statistics.

General Resources


Galit Shmueli, PhD
Institute of Service Science
College of Technology Management
National Tsing Hua University

Software and Textbook


Textbook (mandatory)

Practical Time Series Forecasting: A Hands-On Guide, by Shmueli, Second Edition, CreateSpace 2011 (available in soft-cover and Kindle editions).