Creating daily and weekly forecasts

Inforiver provides the capability to forecast at different granularities: yearly, half-yearly, quarterly, monthly, weekly, and daily. Let's explore some examples in this section.

1. Daily forecasts

Daily forecasts can be applied to areas like

• Financial management where the market volatility requires forecasting for a short, foreseeable period.

• The Hospitality industry where factors like occupancy, and reservations are subject to frequent change.

• Transportation and logistics for effective fleet utilization and route planning.

Let's configure a sales forecast from March 11th to 15th.

STEP 1: Use the calendar to select the period for which you are creating a forecast. If you want to forecast for a single day, select the same date as the start and end periods.

Select the measure that will be used to populate closed forecast periods. Learn more about generating forecasts.

STEP 2: You can specify the source to populate forecasts. Learn more about configuring forecasts. As shown below, you can configure the forecast for each day or the entire period.

STEP 3: Hit the save button and you have a rolling forecast created with just a few easy-to-follow configurations.

2. Weekly forecasts

Weekly forecasts are used in various business and operational contexts where medium-term planning is crucial.

• Promotional Planning: Retailers use weekly forecasts to plan promotions and sales events, aligning inventory and marketing efforts accordingly.

• Staff Scheduling: Businesses use weekly forecasts to schedule staff, ensuring that there are enough employees to meet customer demand without overstaffing.

• Milestone Tracking: Project managers use weekly forecasts to track progress toward project milestones, allocate resources, and adjust timelines as necessary.

When you have weeks in your column dimension, Inforiver automatically detects the week numbers while configuring the forecast.

Inforiver will generate the forecast for the specified number of weeks.