L1 Model Building - Actual and Forecast settings and difference

Hi,

I have just started L1 MB course and unable to understand time settings. Could someone please explain why Actual period is FY2019 and not FY2020 when we have set the current year to FY2020 in main time settings . Also why forecast period includes FY2020 ?

Please see these below SH.

Many Thanks.

J Hamid

Accepted answers

ManjunathKN

Hi

When it says Actuals, it is not by period but rather it is by Data, You will have your Actuals Data only when you surpass that year right. That is the reason Actuals(Data) will be previous year(FY19).

Current Year that is FY20 will also be a forecast year. Lets say you are in the month of Feb, so you will only have actuals data till last month, so from Feb to Dec it still has to be forecasted. This will help business to compare Forecasted vs Actuals Data.

Hope this helps!

Thanks
Manjunath

All comments

KirillKuznetsov

@zaibhamid81

This depends on the current period in your first screenshot. You have to select it to switch the calculation result.

There is Current period line item with formula CURRENTPERIODSTART().

It drives what is Actuals, meaning historical data, and what is forecasted, meaning everything after historical.

By the calculation everything which is bigger than or equal to current period is considered as Forecast in this model.

ManjunathKN

zaibhamid81

Hi Manjunath

Thank you so much for the explanation, it now makes sense to me and will help me to grasp the overall concept.

Kind Regards

J Hamid

zaibhamid81

Thank you KirillKuzentsov for your reply, it helped to understand the concept.

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