Editing forecasts and reforecasting

1. Editing generated forecasts

You can edit a forecast that was configured previously. To edit, click Home > Manage Measures to open the side pane and click on the edit icon near the forecast that needs to be edited.

Editing a forecast

i) Forecast period

You can update the forecast time frame. You may have forecasted for the entire year and then decided to extend the forecast to the following year, reduce the forecast duration to six months, or include a customized period. You can click on the calendar icon, then select and drag to adjust the forecast period.

Changing the forecast period

Notice how the forecast has been reduced to 9 months after updating the forecast period.

Reducing the forecast time period

ii) Update closed period range

This option can be used to reset forecasted periods that were closed after actual data became available. Consider that the forecast for January 2024 has been closed, as shown below.

Closed period for January

When we click on the 'Reset closed period link', all the closed forecasts within the 'Closed Period Range' will be reopened. You can specify the end date of the closed period range - in this case, Jan 2024.

Reset closed period

Notice how the Closed Period Range has been updated.

Closed period range updated

The January forecast has been re-opened.

Reset closed forecast

2. Re-forecasting

You can update the forecast for a specific period using the reforecast option. For instance, if you need to change the forecast for Q2 to the average sales of previous years, you can reforecast for that period alone, without affecting the other forecasts. You can configure the forecast the same way we did in the configuring the forecast section.

Reforecasting

Notice how the open forecast measures have been updated based on the re-forecast configuration.

Re-forecasted data