The Daily Forecast allows for a more customizable forecast that can drive predictive behavior throughout the software and plan ahead more strategically. The date a User selects for the Sales Forecast will display the Sales data from the past 12 weeks against the same 12 weeks from the previous year. The Forecasted Sales Amount, however, will be based on the past 8 weeks from the current year and the same 8 weeks from the previous year so as to provide a more accurate look into Sales for the upcoming week.
If one day's Sales stands far above a normal day due to certain circumstances (poor weather, holiday, large event, ect.), it can be tagged for that specific day and even removed from the graph to provide more precise data for the Forecasted Sales.
1) Location - The Location the forecast is ran for. Only one Location can be analyzed at a time
2) Prior Week - This will shift the Forecasted Date to one week prior to the date listed
3) Prior Day - This will shift the Forecasted Date to one day prior to the date listed
4) Forecasted Date - The date that you are forecasting Sales for. When changing the date, you can either use the Prior Day / Week or Following Day / Week arrows or click the date, which will open a calendar where you can select a specific date and then click 'OK'. You are also able to shift to the current day by clicking the 'Today' button in the bottom left-hand corner of this calendar window
- Note: If the Forecasted Date has passed, the Forecasted Sales amount will be locked and the 'Publish' button will be disabled
5) Following Day - This will shift the Forecasted Date to the following day
6) Following Week - This will shift the Forecasted Date to the following week
7) Settings - When clicked, a menu will open where the comparison year used in Smart Forecasting can be updated. Options include:
- Smart Forecasting (2022)
- Smart Forecasting (2020)
- Smart Forecasting (YOY)
8) Daily Forecast Graph- The graph of Sales for the previous and current years based on the Forecasted Date
9) Forecasted Sales - This amount is the Forecasted Sales for the Location selected and is based on the prior 8 weeks' averages and the same 8 weeks from the previous year's averages. This applies a Year Over Year trend
- Note: If either the current or previous year is a day or more short of the other year, then all values for that year are averaged and used as the 'missing' days to ensure both the current year and the previous year have the same number of values to determine the mark up or down
10) Reset - This will reset the Daily Forecasting page back to the last published value, which includes resetting the selected days both on the graph and in the table and updating the forecast value
- Note: This button will be hidden until the initial forecast is published
11) Publish - The final Forecasted Sales amount will be published to the Smart Forecast for that specific day. When this button is clicked, a pop-up window will ask what other Locations will use the same algorithm. View the 'Publish a Custom Forecast' Section below for further information
12) Published Time Stamp - This time stamp indicates when and who published the forecast and on what page. Pages include:
- Monthly Forecasting Page
- Daily Forecasting Page
- Hourly Forecasting Page
13) Available Days Grid - This grid lists all available dates and their Sales (past 12 weeks) from the graph. Dates with a blue line next to it are from the current year while dates with a green line are from the previous year, as reflected in the graph
14) Days Selected Grid - This grid lists all dates and their Sales in the current selection (past 8 weeks) from the graph. Dates with a blue line next to it are from the current year while dates with a green line are from the previous year, as reflected in the graph
15) Date - The dates listed for the previous weeks and the same weeks from the previous year, based on the Forecasted Date
16) Tags - Any comments that provide additional information about the fluctuation in Sales for that day. A User can also filter, create, edit, and delete tags through the 'Filter Tags' row above the 'Available Days' grid
17) Sales - The Sales amount for that date
18) Daily Sales - The Sales points labeled on the graph. These points can be adjusted for a more accurate Forecast. Click here for more information on customizing a Forecast. There are two symbols displayed in this column:
- - The date and its Sales are included on the graph and play a factor in the Forecasted Sales
- - The date and its Sales are included on the graph, but its Sales are not factored into the Forecasted Sales
Create a Custom Forecast
The Daily Forecast will open to the following week's Forecasted Sales data. Use the Prior Day / Week or the Following Day / Week's arrows to the desired Forecasted Date. If this date is further than a couple weeks, click the date and a Calendar will pop-up where you can navigate easily to the desired Forecasted Date. Click 'OK' to update the date.
Once the date is updated, change the Location if needed, and the graph below will update.
Modify the Forecast
The forecast can be modified by manually updating the forecast in one of two ways:
- (De)Selecting Points on the Graph - Click any data point to include or exclude it from the forecast calculation. Points with a checkmark in it will be included in the calculation
- (De)Selecting Days from the Grids - Include days in the forecast calculation by navigating to the Available Days grid and clicking the '+' icon next to the corresponding dates. Exclude days from the forecast calculation by navigating to the Days Selected grid and clicking the checkmark icon next to the corresponding dates
Click here to learn more about customizing a forecast.
The Forecasted Sales amount will be listed above the Days Selected Grid next to 'Publish'.
Publish a Custom Forecast
Once a Forecast is ready to be published in the Smart Forecast, click the 'Publish' button next to the Forecasted Sales.
A pop-up window will appear that allows you to select the Locations that would benefit from the Forecasted Sales algorithm created from adjusting the Daily Sales amount. For events that occur across multiple Locations, such as a holiday or a coupon drop, the algorithm created for this Location could then apply to other Locations. In this case, select the Locations that would have a similar algorithm and then click 'Publish'.