Event Modeling

Creating Accurate Forecasts When Your Demand History Includes Outliers

2014-05-28T09:11:12+00:00May 28th, 2014|Categories: Forecasting Education|Tags: , , , |

Preparing forecasts using data that contain one or more unusually large or small demand periods can be challenging. Depending on your forecasting approach, these “outliers” can have a significant impact on your forecasts. This article surveys three different approaches to forecasting data containing unusual demand periods, discusses the pros and cons of each and recommends [...]

Event Models & Using the New Event Manager in Forecast Pro

2013-11-20T19:42:13+00:00November 20th, 2013|Categories: Forecasting Education|Tags: , , , |

Forecast Pro’s Expert Selection system can generate thousands of forecasts automatically; however, the automatic forecasting approach can fall short if the historical data do not represent a typical demand pattern for a given item because of certain events.  For example, an unexpected large order may inflate the forecast for the following year, or a stockout [...]

The New Forecast Pro Event Manager in Action

2013-10-25T16:00:18+00:00October 25th, 2013|Categories: Forecasting Education, Using Forecast Pro|Tags: , , , |

If you want to see the new Event Manager available in Forecast Pro TRAC v3.1 and Forecast Pro TRAC v8.1, then you will want to check out the recording of our recent Webinar about using events to improve your forecasting. The educational hour-long session explains how event models work, how and when they should be used, and [...]