Processing Items in Statistical Forecasting

Overview

Prior to processing items in Statistical Forecasting you must have first Created the Statistical Forecasting model. For each item you must select the following:

• Trend Model
• Seasonal Factors Options
• Period Options
• Discount Factor (Weighted models only)
• Saturation Level (Modified Exponential and S-Curve only)

Processing Individual Items 

1. Select the required item from the list and click Edit Model.
2. Select the Trend Model, Seasonal Factors and Period Options to apply to the Item and click Preview.
   
3. Evaluate the fit of the selected model to the data on the graph produced from your selected options.

• If you wish to change the model, click Edit Model and return to step 2.
• If you are happy with the model, click Apply Model. This will update forecast values in the data grid for the item.

Processing Multiple Items

The most efficient method of updating forecasts for all selected items is to use Apply All Models:

• This applies the current saved model for each item to the latest available actual demand data.
• This approach allows for fast updating of statistical forecasts for a large number of items via a single operation.
• It also avoids the need to review models and associated graphical analyses for each separate item.
• Updated forecasts may then be saved for all items by using Save All Models.

Note: 
Once a model has been saved for an item, the details of that model are automatically used as the default for calculation of forecasts in future months.
The last year/month is automatically updated to the latest available month of actual data in the default model.

Reset a Model

To reset the model for an item:

1. Select the required item from the list and click Edit Model.
2. Set the Trend Model to No Model and click Preview.
3. Click the dropdown arrow next to Apply Model, then click Save Model.