Confidence Bands/Prediction Intervals - Visualization Enhancements
A really valuable addition to the platform would be better ways to visualize uncertainty. In many parts of planning, particularly those that highly leverage analytics, thinking in terms of probabilities is important. If there’s a relatively simple way to add in this type of visual (confidence bands, prediction intervals, etc.) , it would be very helpful! As Anaplan continues to make inroads and investments into its Forecasting capabilities, having the ability to visualize probabilistic intervals around point forecasts is going to be critical. It is something nearly all of our competitors have and is table stakes when it comes to forecast visualization…
Comments
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I agree with this post, I feel more visual capabilities (such as Tim's example) around uncertainty would significantly enhance our competence in the analytics portion of connected planning.
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I agree with Tim and Mark! This has come up with prospects and customers in my last few demand planning demos and would be a powerful visualization to add to our forecasting capabilities. Especially during times of disruption, having a way to manage forecasts through uncertainty and being able to adjust and respond quickly is key for our customers.
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Having worked with various statistical software packages the last 30 years, and having implemented solutions heavily utilizing statistics, giving users the option to visualize the confidence intervals is standard practice.
I have also used confidence intervals as high/low scenarios and carried them throughout a connected process to see the confidence intervals translate in terms of final output for example Raw material requirements, financial costs, inventory, etc.
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