Forecasting

Want a forecasting interface that’s both flexible and integrated?

OLAP Office Explorer™ provides an ideal interface for forecasting and was designed by Chartered Accoutants and software technicians. Forecasting is carried out to meet “corporate objectives” and helps to highlight both revenue streams and resources required to complete plans within given business constraints. A forecast is an estimate of a future trend.  

Forecast features can include:

  • Maintenance of all forecasting histories.
  • Comparison of all forecasts to the actual and budgeted results.
  • Translation of world-wide currency forecasts to base currencies (refer to the Currencies page).
  • Automatic updating of “actual” period results into the appropriate forecasting periods for a forecast.
  • Automatic forecasting techniques – when the actuals are produced, the forecast is automatically produced. All techniques detailed in the budgeting area are also available for forecasting. This includes the data collection and inputting techniques.
  • Selective forecasting where only material accounts, products, customers, etc. are manually forecast, with the other items being automatically forecast.
  • … and more.

An example of an OLAP forecasting technique is as detailed below:

  1. Information is updated from the source system for “Actuals” data. For example, for a Profit & Loss Statement, the period trial balance figures can be automatically updated each period.
  2. The forecasting histories then automatically reflect the “Actuals” trial balance information depending on the forecast period.
  3. To complete the forecast, the figures can be “Input” through an OLAP Office Explorer™ spreadsheet directly to the cube. This could include the allocation of data for the forecasting period.
  4. The “Input” periods can be automated so that forecasts are automatically completed. Automation could be based on historical trends, seasonality factors, materiality considerations or any appropriate method.

Note: This technique could work across a cube structure that includes dimensions for Departments, Companies, Currencies, Accounts and any others considered necessary.

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