A Forecasting Overview dashboard provides a visual representation of forecasted data in a summarized format. It offers an overview of key metrics, trends, forecast accuracy, and team performance. This dashboard consolidates and shows forecasted data from several teams in a concise format.
The Forecasting Overview dashboard allows team members, stakeholders, and decision-makers to effectively analyze the forecasted data. It also helps to evaluate the forecast accuracy and team performance based on their cloud spend.
You can use the year and month filters to analyze the data for a specific year or month. The filter is configured to display the default year and month as per the settings determined by the admin in the Default Settings section.
Forecast Accuracy
Forecast Accuracy is a visual indicator that provides a clear and concise accuracy representation of how well your forecasts align with the actual amount. The accuracy % is calculated by dividing the variance by the forecast amount for the given month. You can hover over the RAG to get additional information such as the forecasted amount, actual amount, and variance percentage with the amount.
The indicator displays a range of forecast accuracy from 0% to 100%. A higher value represents lower accuracy, while a lower value indicates higher accuracy.
The following table helps you to understand the visual representation of the forecast accuracy indicator:
|
Forecast Accuracy |
Color |
|
Low |
Red |
|
Medium |
Amber |
|
High |
Green |
Note: This indicator is based on the RAG status. Admin can set the threshold values for forecast accuracy (Low or High) that determine when the indicator turns red or green.
Team Rank
Team Rank chart provides a list of all the teams and their ranking based on deviation percentage. The team rank depends on the deviation percentage. A lower deviation gets a higher rank. The deviation percentage is calculated by using the below formula:
Deviation % = (Variance / Forecast) * 100
Whereas,
Variance = Actual - Forecast
The Rank Change column in the chart displays the changes in a team’s ranking from the previous month. Change in rank number is indicated by upward or downward arrow, for example, ⬆️ 1 represent the team rank is moved up by 1 position compared with previous month. You can use the search box to find the ranking of specific teams.
Note: The initial team ranking for the first month of a new year is calculated by carry forwarding the previous year’s last month rank. If the previous year is not available then the rank is set to zero.
Team Spend
Team Spend chart shows the breakdown of cloud spend by various teams within your organization. This chart allows you to see the forecasted and actual values of each teams for the given month. Also, you can graphically compare the cloud spend of various teams.
Click on any bars to drill down into the Team Forecast dashboard. You can use team spend chart to access the teams monthly forecast and actual spend data.
Recent Forecast Updates
The Recent Forecast Updates provides a list of the most recent forecasting changes made in the current month. This allows you to stay informed about the latest forecasting updates. This section shows the forecast adjustment amount and the comments related to each modification. It also highlights the date and time of each update, as well as the team and username responsible for the change.