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. | |
| 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.