The Forecast Entry page is the core page of the Forecasts module. Various tools exist on this page to improve your ability to develop the most accurate forecast possible. Once you create and save a forecast, you can use other areas of RADAR (such as Reports) to monitor and evolve your forecasting process.
- Location - Select the location for which you would like to develop a forecast
- Period - Select the period for which you would like to develop a forecast. Period settings can be configured in Forecast Settings
- Forecast Metrics - Select the metric for which you would like to develop a forecast. Enter values into the table. You can enter values for individual days, or you can enter a weekly value and use the SPLIT, SAME, or WEIGHT buttons to spread that value throughout the days of that week. You can also spread values throughout the week that are pulled directly from your budget. Refer to the "Advanced Usage" section below for more information
- SAVE - Select SAVE to save your forecast
- Budget - A Budget column will appear for some forecast metrics. If you select a forecast metric that contains this column, the value will be automatically pulled from budget information configured in Company Configuration
- SPLIT - Selecting SPLIT will evenly divide the value by seven and assign the resulting value to each day of the week. For example, if your Budget value is 49,000 (or you enter a Weekly Total Value of 49,000), selecting SPLIT will assign a value of 7,000 to each day of the week
- SAME - Selecting SAME will assign the same value to all seven days of the week. Additionally, your Weekly Total value will be multiplied by seven. For example, if you enter 49,000 as your Weekly Total value and select SAME, all seven days of the week will be assigned a value of 49,000. Additionally, your Weekly Total value will be multiplied by seven (343,000)
- WEIGHT - Selecting WEIGHT will take the figure you entered and split it into a weighted amount for each day of the week. The weighting amount is determined by looking at actual activity for this metric for the past four weeks You can view the weight amount for each day of the week by hovering your mouse over the day column headers. For example, hovering your mouse over 'Monday' will display a flag that reads, "Weighting for this day is [x]%, derived from [Forecast Metric] activity over the past four weeks." Show Previous Year Variance: Selecting this option will add two read-only values to each item on the table (except for Budget items): PY Var and PY Value
- PY Var - This is the percent variance between the day's actual value last year and the forecasted value this year. For example, if the actual value for May 28 of last year was 4,121.92, and the forecasted value for May 28 of this year is 4,026; then the PY Var will be -2.3%
- PY Value - This is the day's actual value for last year
- Adjust All Days - This will adjust the forecasted values for all days by the amount you enter. For example, if you would like to increase all your currently entered values by 2%, enter "2" into the 'Adjustment' field and select ADJUST. To decrease all your currently entered values by 2%, enter "-2" into the 'Adjustment' field and select ADJUST
- Adjust by Day of the Week - This will adjust the forecasted values for specific days by the amount you enter. For example, if you would like to increase all Mondays by 2%, enter "2" into the 'Adjustment' field and select ADJUST. Each day of the week can have a different adjustment value
- Quick Load - Three selections are available. Once you make a selection, the values will be automatically entered into each item in the table
- Last Period Actuals - Loads actual amounts from the last period
- Last Year Actuals - Loads actual amounts from last year. Last Period Forecast: Loads amounts that were forecasted last period. Note: Selecting ZERO OUT will reset all values in the table to zero. Before you can select a different Quick Load option, you must reset all values in the table to zero by selecting ZERO OUT
- Show Day of Week Trend versus Last Year? - Selecting this option will display an interactive table at the bottom of the page to assist you with making the most accurate forecasts possible. See the "Show Day of the Week Trend versus Last Year" section below
Show Day of Week Trend versus Last Year
When you select this option, a table will display at the bottom of the page. This table can be utilized to develop accurate forecasts based on actual day-specific information from previous weeks and the previous year.
Using the "Day of Week Trend versus Last Year"
- Table Past Trend Data - Two options are available for selection:
- This Location - Sets the past data that is displayed in the table to be specific to the location selected at the top of the page in the 'Location' field.
- All Locations - The past data that is displayed in the table will include all locations
- # Previous Weeks - This controls the number of previous weeks that are displayed in the table
- # Additional Projected Weeks - Controls the number of projected weeks beyond the period of dates displayed in the table at the top of the page
- RECALCULATE TRENDS - By default, all items from past data will be checked when the table displays. If you deselect an item and select RECALCULATE TRENDS, all the trend values in the table will be recalculated and the unchecked items will be excluded from trend recalculations
- LOAD PROJECTED INTO TEXTBOXES - Once you are finished adjusting the trend values in this table, you may select LOAD PROJECTED INTO TEXTBOXES to automatically send the calculated projected values in this table to the main forecast table at the top of the page
- SAVE CHECKED PROJECTED WEEKS - Selecting this button will save all currently checked projected trend values
Some of the values on the “Day of Week Trend versus Last Year” table may be underlined. This indicates that there is a Manager Log Event associated with that day. If you click on one of these items, the Manager Log Event associated with that day will be displayed. This can be a very useful tool if there was an event on that day that is skewing the value. This may lead you to omit that day’s value from that table.
There is a key located at the bottom of the “Day of Week Trend versus Last Year” table. This key is a good reference that can improve your ability to understand and interact with the table.
Frequently Asked Questions
Q: Can you have a top-line sales metric with subset values along a subset of the same? For example, would it be possible to have a “Net Sales” and a “Food Sales” metric.
A: No. The Forecasts need to be set up as building blocks that yield “Net Sales”. You cannot enter a top-line number alongside a subset of the same. For example: You set up “Net Sales” and “Food Sales”. You enter $2,500 into “Net Sales”. You enter $1,800 into “Food Sales” because $700 is beverage sales. RADAR will report that your total forecasted sales for this day is $4,300 ($2,500 + $1,800) because all of the values entered against sales are summed and reported as total forecasted sales.