Forecasting Software: Can You Answer These Questions?
Forecasting software is used by thousands and thousands of companies for sales/demand forecasting and business planning.
Forecasting software offers solutions for improving the quality, reliability, and speed of budgeting and forecasting activities throughout your organization. Not only is business
forecasting software the most accurate available, it also makes the process of creating forecasts easy when compared against Excel.
Forecasting Software Solutions
So whether you have data warehouses full of historical data or only your best management estimates,
forecasting software helps you produce the highest quality forecasts possible using Wizard-style guides, easy-to-assemble models, and interactive reports.
Ok, so we get it now what
forecasting software is about, here are some very important questions to ask your
forecasting software.
Forecasting Software Questions 
1. How are the updated actual data collected and loaded on to the forecasting package?
2. How is the forecast and resulting error updated, tracked, and analyzed within the forecasting package?
3. Is large-scale batch forecasting available within the software?
4. What levels of aggregation of forecasts can the package handle?
5. Can the forecast reports be compiled by segmentation type, e.g., by function, product and product category, and geographic territory?
6. How does the software handle “top-down” forecasting?
7. How does the software handle “bottom-up” forecasting?
8. Which management reports are available from the software?
9. Does the software report on the model used?
10. Which measures of error are available for analysis?
11. What are the “drill down” and query capabilities within the forecast and the actual data?
12. Can the
forecasting software evaluate the data and create analytical statements, such as “…..the following list of SKUs experienced a significant level shift starting such and such periods ago?”
13. How are assumptions identified, quantified, and stored?
14. How are the forecasts and forecast assumptions and reports shared with other users?
15. How are the forecasts and forecast assumptions and reports shared with management?
16. What types of graphics are available for the forecast?
Forecasting Software Demo
Still unsure how Forecast Software performs, then at MXI we will take your information and prepare your forecast for you, imagine that. An actual forecast software demo based on your data!
