Management Development Program (MDP) on Business Forecasting for Effective Decision Making- An Application of Regression Technique

GL Bajaj Institute of Management and Research, Greater Noida organized 10th Management Development Program on “Business Forecasting for Effective Decision Making- An Application of Regression Technique” on Saturday, July 21, 2018, at its campus, to make the participants learn, develop, and practice skills needed to succeed in their current and future leadership roles. This initiative was taken by the institute under the visionary guidance of Mr. Pankaj Agarwal, Vice Chairman, GL Bajaj Educational Institutions and Dr. Urvashi Makkar, Director General, GLBIMR. The Chief Guest of the event was Ms. Shamli Prakash, Senior Vice President, Opera Solutions, New Delhi and Dr. Deepak Verma, Faculty, Malaviya Institute of Technology, Jaipur were the expert resource persons. The event witnessed participation of the delegates from various corporate houses,   academia and research scholars.

MDP | Business Forecasting for Effective Decision Making [ The Knowledge Review ]

Dr. Makkar, Director General shared that this MDP has successfully enabled the participants to delve into the application of regression analysis for business forecasting. She highlighted that Regression Analysis Techniques will not only help in forecasting the future of the business but will also help in stabilizing various departments and business function.  Ms. Shamli Prakash, Senior Vice President, Opera Solutions focused on data-driven decision making to eliminate common errors due to uniform decision making based on managers’ intuition. Dr. Deepak Verma, Faculty, Malaviya Institute of Technology explained that the program will enable understanding of the model development and accuracy of prediction to make effective decision making with the use of Excel and SPSS. He explained the Time Series Analysis Technique which is very essentials for Business Forecasting. He also shared techniques of linear regression, Multiple regression and its application for predictive modeling. He highlighted that the inferences drawn from prediction models will facilitate market researchers, data analysts and managers to evaluate and implement the best alternative strategy.

The session was interactive and involved brainstorming activities among the participants and trainer. All the delegates were conferred with Certificate of Participation. The event was extremely successful.

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