In today's fast-paced economic environment, relying on lagging indicators of inflation is no longer sufficient for proactive decision-making. The demand for a real-time, dynamic view of price trends has led to a revolution in data analytics and visualization. By leveraging modern technology, policymakers and businesses can move beyond static reports to a live, interactive dashboard that provides up-to-the-minute insights. These digital inflation dashboards integrate diverse data sources, from traditional statistics to real-time alternative data, enabling a more accurate and timely assessment of inflationary pressures and their drivers.

This program provides a comprehensive and practical guide to building and deploying inflation forecasting systems and interactive dashboards. Participants will learn the full lifecycle, from data sourcing and ETL (Extract, Transform, Load) to advanced modeling and data storytelling. The course will address everything from the design of a user-friendly interface to the critical challenges of data governance and security. By focusing on hands-on exercises and real-world applications, attendees will be equipped with the skills and knowledge to create a modern, data-driven framework for monitoring and forecasting inflation in their organizations.

Duration: 10 days

Target Audience:

• Central Bank Economists and Researchers
• Data Scientists and Business Analysts
• Financial Market Analysts and Strategists
• Corporate Planners and Retail Analysts
• Public Policy Officials
• Academics and Graduate Students
• Risk Management Professionals
• Journalists and Economic Reporters
• IT and Business Intelligence Professionals
• Investment and ESG Analysts

Objectives:

• Master the core principles of data visualization for economic analysis.
• Learn to identify, source, and integrate diverse data sources.
• Understand the technical and ethical challenges of using alternative data.
• Grasp the complexities of nowcasting and forecasting models.
• Develop proficiency in building and deploying interactive dashboards.
• Explore best practices for ensuring data quality and governance.
• Learn about robust methods for communicating complex insights.
• Identify the critical software and programming tools for data analytics.
• Develop skills in translating data insights into actionable policy.
• Formulate strategies for building a more data-driven organization.

Course Modules:

Module 1: The Foundations of Inflation Analytics

• The limitations of traditional inflation data
• The concept of nowcasting and forecasting
• The role of a "clear and focused research question"
• The data types and sources for inflation analysis
• The importance of a "risk and mitigation" plan

Module 2: Data Sourcing & ETL

• The process of extracting, transforming, and loading data
• The use of a simple scorecard and a dashboard
• The role of APIs for automated data collection
• The challenges of an over-concentrated data source
• The importance of a "data story map"

Module 3: Data Visualization Fundamentals

• The principles of effective data visualization
• The use of charts, graphs, and maps for economic data
• The importance of a "clear and consistent reporting style"
• The choice of visualization software (e.g., Tableau, Power BI)
• The role of a program's theory of change

Module 4: Dashboard Design & UX

• The design of a user-friendly and intuitive dashboard
• The importance of a "stakeholder analysis"
• The role of a clear and compelling KPI
• The use of interactivity and drill-down functionality
• The challenges of presenting complex information

Module 5: Forecasting Models

• The use of time series models (e.g., ARIMA)
• The importance of a "risk and mitigation" plan
• The role of machine learning models for forecasting
• The use of a simple scorecard and a dashboard
• The challenges of a model's bias and a forecasting error

Module 6: Nowcasting Methodologies

• The use of mixed-frequency data sampling (MIDAS) models
• The importance of a "data story map"
• The role of dynamic factor models
• The use of a "clear and consistent reporting style"
• The role of a program's theory of change

Module 7: Data Governance & Security

• The principles of data governance and quality control
• The importance of a "stakeholder analysis"
• The ethical and privacy considerations of data use
• The role of a clear and compelling KPI
• The challenges of data security

Module 8: The Role of a "Clear and Focused Research Question"

• The use of a "risk and mitigation" plan
• The importance of a "data story map"
• The role of a "clear and consistent reporting style"
• The use of a program's theory of change
• The importance of a "stakeholder analysis"

Module 9: Case Studies in Digital Dashboards

• Case study: A central bank's inflation dashboard
• The use of a simple scorecard and a dashboard
• Case study: A corporate risk management dashboard
• The importance of a "data story map"
• The lessons from past projects

Module 10: Policy and Communication

• The challenges of communicating data insights to a non-technical audience
• The use of a "clear and consistent reporting style"
• The role of a program's theory of change
• The importance of a "stakeholder analysis"
• The use of a clear and compelling KPI

Module 11: The Future of Inflation Analytics

• The role of a "clear and focused research question"
• The use of AI and automation in forecasting
• The importance of a "risk and mitigation" plan
• The impact of a decentralized financial system on data
• The use of a simple scorecard and a dashboard

Module 12: Technology and Tools

• The use of Python libraries (e.g., Pandas, Matplotlib)
• The importance of a "data story map"
• The role of cloud computing platforms (e.g., AWS, Azure)
• The use of a "clear and consistent reporting style"
• The role of a program's theory of change

Module 13: The Role of a "Stakeholder Analysis"

• The use of a clear and compelling KPI
• The importance of a "clear and focused research question"
• The role of a "risk and mitigation" plan
• The use of a simple scorecard and a dashboard
• The importance of a "data story map"

Module 14: The Role of a "Clear and Consistent Reporting Style"

• The use of a program's theory of change
• The importance of a "stakeholder analysis"
• The use of a clear and compelling KPI
• The importance of a "clear and focused research question"
• The use of a "risk and mitigation" plan

Module 15: The Role of a "Simple Scorecard and a Dashboard"

• The importance of a "data story map"
• The role of a "clear and consistent reporting style"
• The use of a program's theory of change
• The importance of a "stakeholder analysis"
• The use of a clear and compelling KPI

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Training Venue

The training will be held at our Skills for Africa Training Institute Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Skills for Africa Training Institute certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: info@skillsforafrica.org, training@skillsforafrica.org  Tel: +254 702 249 449

Terms of Payment: Unless otherwise agreed between the two parties’ payment of the course fee should be done 10 working days before commencement of the training.