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Forecasting is the art of saying what will happen, and then explaining why it didn't!

Are you responsible for generating your brand forecast?

Do you know what the key criteria are for selecting the most appropriate forecast methodology for your brand?

Do you inform, manage, or approve the brand forecast at your company?

Would you like to understand what the key drivers of the brand forecast are and how they can be applied to the forecasting process?

The objectives of this 2-day course are to introduce participants to the principles of forecasting in the pharmaceutical industry. The skills learned in this course will help you make smarter and more profitable business decisions.

It is critically important to be comprehensive when assessing the value of business opportunities, from new products to mature inline brands, the various stages of clinical development, launch, growth, maturity and the loss of exclusivity phase of the product lifecycle.

At this course, we will discuss the pre-requisites of the forecasting process, how to determine and select the ideal forecasting technique (demand or epi-based), and how to interpret the business environment to inform the forecast while incorporating management assumptions.

What will you Learn?

  • The Forecasting Process: Pre-Requisites for Effective Forecasting
  • Time Series Methods to Develop Baseline Projections
  • Event-Based Forecasting: Finalizing the Baseline Forecast
  • Demand-Based vs. Epidemiology-Based Forecasting
  • Quantitative Methods for Validation & Analog Modeling
  • New Product, In-line Product, and Lifecycle Forecasting

Course Objectives

  • Teach the basic principles of forecasting
    • Review and understand the key process elements as they relate to the organization
  • Illustrate and practice the most commonly used forecasting techniques
    • Demystify quantitative forecasting as a methodology
    • Discuss the relationship between the quantitative and qualitative aspects of forecasting

Course Logistics & Dates

Date: December 6-7, 2022

Delivery: Online using ZOOM with live instructors, high interaction, exercises, report outs, whiteboarding and Q&A teach-backs


Day 1 – 9am to 12pm, and 2pm to 4:30pm EST*

Day 2 – 9am to 12pm, and 2pm to 4:30pm EST*

* schedule can be adapted for pacific/central time participants as needed

Pre-Workshop Learning: A 30-minute pre-workshop, self-directed, learning tool will be provided online

Course Fee:

Single company registrant: $2,995 USD

Multiple company registrants: $2,795 USD per attendee

Payments made online through virtual invoicing using credit card.

Company invoice payable by check is also accepted.

Participant Materials:

  • Learning guide containing all training content
  • Glossary of Terms
  • Recommended reading and website resources
  • Job Aids for Research

Over 12,000 associates trained to date!
Space is limited to 12 attendees in this course.


Who Should Attend

Marketing associates, product managers, brand team members, commercial analytics team members, clinical research associates, finance associates, R&D team members, regional or district sales managers, strategic planners, managed care and reimbursement associates.

Course Outline

Day 1

  • Introduction and Objectives
  • Pre-Requisites for Forecasting
  • Key Forecast Drivers
  • Quantitative Forecasting Methods: Analog Modelling
  • Demand-based Forecasting Methods
  • Workshop Exercise: Developing a Baseline Forecast

Day 2

  • Case Study: Complex Analog Models
  • Qualitative Forecasting Methods
  • Event-based Forecasting
  • Lifecycle of Product Forecasting
  • Epidemiology-based Forecasting Methods
  • Workshop Exercise: Developing an Epi Forecast Model
  • Risk and Uncertainty: Advanced Forecasting Methods using Monte Carle Simulation

For more information about this course or any other F|R Performance & Learning development services please contact