Forecasting Sales

s.hasrio

Hi,

How to forecast data for future months? I have data for FY23 and I want to forecast the Sales for FY24. I have two line items: Sales and Quantity. Is it also possible to forecast the two of them?

Thanks

Dikshant

You need to add FY24 in the model calendar, as this change would be applicable in the whole model, i guess. So change the model calendar and add a future year if it's not currently available in the model calendar.

s.hasrio

@Dikshant I already added the FY24 in my model calendar. What I would like to do is to add values based on forecasting function so that the FY24 has forecasted data based on the FY23 line items

Kanishq17

@s.hasrio how should the values , is forecast a version or what shall the logic on which data has to be put in FY24

s.hasrio

@Kanishq17 yes, what I mean is what logic should be used so that I have values on my FY24

devrathahuja

@s.hasrio - There is no native forecast function like excel in Anaplan. You can either create a custom logic or try to use the statistical forecasting app to generate a forecast using 1 of the many methods present there.

s.hasrio

@devrathahuja can I have the link for the app?

Dikshant

You can download multiple models for multiple use cases from below link.

https://support.anaplan.com/modeling-showcase-02b27ae1-a9e6-4441-8070-3eadcec27aa9

devrathahuja

@s.hasrio - I think they've removed it recently. It used to be this one - https://support.anaplan.com/statistical-product-forecasting-692cb73a-478b-4ee1-942d-b50ce9c5ae8c

You can reach out to your customer success partner & check with them.

Kanishq17

You can use PlanIQ

Dikshant

Plan IQ does not come with a standard license. If you want to explore thre is small course by Anaplan o nthe same and you need to get in touch with your Anaplan Business Partner if you want to purchase the extra features and capabilities of Anaplan.

Kanishq17

I suggest can you know , there are some options like using FY23 as a base to load to FY24 (sales and price) or use time function to push sales data by a certain factor ( can be put in a different module) say there is a growth rate expected for FY24

so sales for FY24 will be FY23 sales *(1+ yearvalue(growth factor))