PlanIQ clarification - with data collection (historical data and related data)

KimJeongjun
KimJeongjun
in Intelligence

Hello.

 

I'm new to PlanIQ feature and confused with the error message below- the one says "the related data does not include forward looking information"

 

my understand on historical data is, that I have to ONLY feed the historical data of objective variable (in this case, I tried to make a forecast on revenue in 2019, so I made a data module view includes revenue in 2011 to 2018). And on the related data, my understanding is that I have to feed the data which related to the historical data of objective variable (in this case, I gave the budget spent on promotion, advertisement in 2011-2018). I did not added any attributes because I'm making the forecast on the whole company and the data is also about the whole business (not divided in departments etc.)

 

yet this message seems to says that I have to provide related data of future timescale (in this case, the budget spent on promotion, advertisement in 2019?) in order to use the related data function.

(the forecast values between with and without the related data was exactly same, so I guess they are just ignored)

 

is there any way that I can utilize my current dataset of promotion and advertisement in 2011-2018, to get more precise forecast?

 

thank you, hope you have a great day!

 

kim

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Answers

  • anikdas
    anikdas

    Hi Kim,

    If you are feeding the historical data and related data to PlanIQ, PlanIQ needs the related data points in the future. The reason behind that is the related data acts as a driver (similar to regression) and to come up with the forecast values, PlanIQ needs to know what the future driver values would be.

  • KimJeongjun
    KimJeongjun

    Hi Anik, thank you for your Answer!

     

    Sorry for asking you a different question, but what if I throw the "promotion and advertisement" (in 2011 to 2018) line item to the historical data? Will the prediction of revenue (in 2019) make a good reference from those data or will it only cause malfunction? (in other words, should I ONLY leave historical target data (in this case, past revenue data) line item in the module view before make an export action for the historical data?)

     

    thanks

    kim

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