SoftGuide > Functions / Modules Designation > Forecasting

Forecasting

What is meant by Forecasting?

"Forecasting" refers to the prediction or estimation of future events or developments based on historical data, trends, and statistical models. In the business context, forecasting often involves predicting sales, demand, inventory levels, or other key metrics to support strategic decision-making and resource planning.

Typical functions of software in the "Forecasting" domain include:

  1. Data analysis: The software analyzes historical data and identifies trends, patterns, and seasonal variations.

  2. Statistical models: Using statistical algorithms and methods, the software generates forecasts for future developments, such as through regression analysis, time series analysis, or Monte Carlo simulations.

  3. Automation: The software automates the forecasting process and adjusts automatically to changing data or conditions.

  4. Visualization: The results of forecasting are presented visually to make them easily understandable and interpretable, such as through charts, graphs, or dashboards.

  5. Scenario analysis: The software allows for the simulation of different scenarios and evaluates their impacts on the forecasted results.

  6. Integration: The software can seamlessly integrate with other business applications or systems to leverage data from various sources and incorporate them into the forecasting models.

  7. Adaptability: The software offers flexible settings and parameters to customize the forecasting models to the specific requirements and circumstances of the business.

  8. Monitoring and updating: The software continuously monitors the accuracy of the forecasts and enables adjustments or updates as needed.

 

Are you looking for software for your company? We will help you with this challenging task free of charge! We will compare more than 64,000 solutions for you.

Learn more now!

The function / module Forecasting belongs to:

Statistics/Forecast

Software solutions with function or module Forecasting:

Voracity
Voracity
 
 
 
 
 
 
The most powerful platform for end-to-end data management
Detact®
Detact®
 
 
 
 
 
 
Artificial intelligence for manufacturing process chains
Corporate Planner
Corporate Planner
 
 
 
 
 
 
Software for Corporate Performance Management
GEBRA-Suite
GEBRA-Suite
 
 
 
 
 
 
Customized business applications with flexible modules
elKomKONS
elKomKONS
 
 
 
 
 
 
Software solution for consolidation (HGB, IFRS, US-GAAP) and planning & reporting
WITNESS
WITNESS
 
 
 
 
 
 
More efficiency in production and logistics
Scopevisio
Scopevisio
 
 
 
 
 
 
Cloud enterprise software for the mid-market companies
ProMode
ProMode
 
 
 
 
 
 
ERP / Enterprice Ressource Planning System / Merchandise management system
S&OP - Sales Planning
S&OP - Sales Planning
 
 
 
 
 
 
Software for effective sales and sales planning in manufacturing companies
elKomBI
elKomBI
 
 
 
 
 
 
Controlling software for analysis, planning and reporting with IBM Planning Analytics TM1
Show all 54 programs with Forecasting