Editing forecasts and reforecasting

1. Editing generated forecasts

Inforiver allows you to edit a forecast that was configured previously. To edit, click on the Manage button to open the Forecast Measures 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, then decided to extend the forecast to the next year or reduce the forecast duration to 6 months.

Changing the forecast period

Notice how the forecast has been reduced to 6 months after updating the forecast period.

Reducing the forecast time period

ii) Update closed period range

The forecasted periods that have been closed after actuals become available can be reset using this option. 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