Practical Econometrics
for Managerial Decision Making

Seminar Overview

"Doing econometrics can feel like trying to learn the laws of electricity by playing the radio. '

-Economist Guy Orcutt

'Econometrics is the quantitative analysis of actual phenomena,

based on the concurrent development of theory and observation, related by inferences. '

-Economist Paul Samuelson

This comprehensive SAA & CONSULTING seminar will integrate the concepts, variable-analysis, interpretation, and applications to forecasting and managerial decision making of sophisticated multivariate econometrics modeling.

It will provide senior managers with high-level skills and techniques to both perform basic econometric analysis, as well as interpret and apply econometrics outputs to a wide range of quantitative and qualitative problem-solving & covering all facets of hypothesis testing, variables selection, data types, statistical analysis and error tolerances, along with inferences-insights, correlations, and trends.

The seminar will utilize inexpensive software applications linked within Excel to perform high-level econometric research-analysis-review on par with the 'best practices ' used in contemporary economics, corporate forecasting, and Wall Street investment banking & helping managers become fluent in the terminology and process-application of econometrics to everyday decision making contexts.

Seminar Objective

Specifically you will learn to:

• Design and produce all facets of an original business research study
• Collect and format various types of quantitative and qualitative data
• Perform different models of multivariate econometric analyses with applications in Excel
• Analyze detailed statistical output from econometric model-software
• Draw inferences to support high-level managerial decision making
• Write a detailed, yet succinct, executive summary of research findings

Designed for

• CFOs looking to design-execute original finance-accounting econometric research studies
• CEOs looking to improve quantitative-based decision -making
• CROs looking to develop new forms and insights for marketing and competition research
• Board Members looking to fully monetize Big Data for the shareholders/stakeholders
• R+D/ Product Development Teams looking for direct connections
• Business Development Directors looking to proactively open up new opportunities

Seminar Outline

• Model Design, Hypotheses, Variables, Structure, Outcomes, Quantitative and Qualitative Inputs
• Software Options - Linking Models and Confirmation Metrics
• Cross Sectional Samples - Time Series Sequences - Longitudinal Tracking
• Primary Data vs. Secondary Data Costs and Acquisition .
• Descriptive Outcomes vs. Predictive Outcomes - Dummy Variables / Indicators / Surrogates
• Single-Variable vs. Multi-Variable Descriptors and Predictors - Correlation vs. Cause-And-Effect
• Punctuated Trending vs. Real-time Fluidity - Static Formations vs. Dynamic-Changing Models
• Micro-economic vs. Macro-economic Decisions - Indicators, Lagged Variables, Barometers/Bellwethers
• Problems of Multicollinearity and Autocorrelation - Caveats of Explaining Variance
• Drawing Inferences Rather than Conclusions and Confidence Intervals in Econometric Forecasts
• Packaging analysis-results for Optimum Explanation & Problems with Overreach of Statistical Outputs
• Personal-Managerial Bias Impacts Interpretation and Distilling Data Output into Actionable Intel
• Disseminating Data Output for Maximum Decision Making Impact