Accessing the Forecast Settings
By clicking "+ Plan" you get access to the SIMCEL Plan menu
To access the "Forecast Settings" click on "Open Forecast Settings" button at the bottom of the pop-up:
The screen gives access to different settings regarding the forecaster in SIMCEL.
Forecast Aggregation:
The concept of 'Forecast Aggregation' pertains to the granularity at which forecasts are generated. This involves a strategic balance to optimize data detail, forecast precision, accuracy, and computational efficiency. As a rule of thumb:
- Higher levels of data aggregation can speed up the forecasting process due to the denser data representation. However, this often comes at the cost of reduced precision, as nuances and specific patterns may be lost.
- Conversely, opting for finer data granularity enhances the detail level of the forecast, potentially increasing precision. This detailed approach, though, requires more computational resources, as the data volume is larger and more complex to analyze.
Achieving accurate forecasting necessitates identifying the ideal level of data granularity. Excessively aggregated data might obscure vital trends and patterns, diminishing precision and utility. On the other hand, overly detailed data can create discontinuities in the forecast model, with insufficient data points in each segment to effectively discern trends and patterns. The goal is to strike a balance that preserves critical information while ensuring computational feasibility and forecast reliability.
SIMCEL allows you to select the granularity of 3 dimensions: "Product", "Customer/Location" and "Time".
Explore Products/Customers:
This feature enables users to efficiently review the actual demand for the selected product or customer from the most recent year. There are instances where certain customers or products might have been removed from the active list, but their status wasn't updated in the customer master records. This feature offers a swift method to visualize their historical demand, assisting in determining whether they should be delisted or not.
