Forecast comparison is a feature of software used to compare different scenarios or projections. In the context of business software, forecast comparison often refers to analyzing and comparing financial forecasts or business plans. The goal is to assess the impact of different assumptions or decisions on the future development of the company.
Typical Features of Software in "Forecast Comparison":
Scenario Management: Ability to create and manage multiple scenarios or forecasts.
Financial Projections: Uploading or manual input of financial data to simulate future outcomes.
Assumptions and Parameters: Adjustment of assumptions and parameters that influence the forecasts, such as revenue growth, cost structures, market conditions, etc.
Comparison and Analysis: Comparing results from different forecasts to identify differences and potential impacts.
Graphical Representation: Visualizing data through charts to make trends and patterns easily identifiable.
Export and Reporting: Exporting options for results and generating reports for decision-makers.
Scenario Planning: Supporting the development of business strategies through simulation of various business scenarios.
Real-time Updates: Capability to input and update data in real-time for current and accurate forecasting.