Forecast Methods

Forecast methods determine the parameters and algorithms that the application uses to generate a plan. They are used to forecast the LFSO drivers that are used to calculate workload.

For information on viewing and modifying the parameters for each forecast method. See Forecast-Method Parameters.

The available forecast methods depend on the module of the Labor Budgeting you are using. Labor Budgeting includes the following forecast methods:

Forecast Method Supported Module Description See...
Bottom Up - Growth Adjusted Trend Budget Creation Applies user-defined growth percentages for AHR and driver forecasts to the actuals for the matching day last year. Last year's actuals include AHR and driver actuals.

Bottom Up - Growth Adjusted Trend Forecast Method

Budget Adjusted Trend Budget Management Compares the trend of this year's sales and AHR actuals against this year's budget. Budget Adjusted Trend Forecast Method
BUP - Trend of Historic Averages Budget Creation Compares the trend of this year's actuals against the trend of last year's actuals. Last year's actuals include AHR and driver actuals. BUP - Trend of Historic Averages Forecast Method
Growth Adjusted Trend Budget Management Applies user-defined growth percentages for AHR and sales to the actuals for the matching day last year. Growth Adjusted Trend Forecast Method
Trend of Historic Averages Budget Management Compares the trend of this year's actuals against the trend of last year's actuals, including sales and AHR. Trend of Historic Averages Forecast Method

The forecast method used to generate a plan determines whether you create a top-down forecast or a bottom-up projection.