Creating a Forecast to Monitor Goals
Your team has many goals that you need to hit throughout the year. With Mapp Intelligence's Forecasts, you can know if you're on track to meet them!
In our example, we want to forecast the number of orders that we will reach by the end of this month. We want to receive and weekly update.
You should have at least three months or 90 days' worth of data collected. This will help Mapp make the most accurate predictions.
- Open Mapp Intelligence and select the bell icon.
- Go to Notifications >Forecasts and select Create New Forecast.
- Now you will be taken to the Forecast Configuration page.
- In Forecast Settings, select your desired Metric. In this case, we will be using Qty Orders.
- Dimension lets you create forecasts for different dimensions. E.g. you could select a campaign channel to get a forecast for the number of orders per channel.
- The filter allows you to apply a filter. E.g. you want to have a forecast for new visitors only.
Next, select the Timeframe you wish to create a projection for, which is "End of month".
The further in the future the timeframe, the less precise the forecast. Also, if you have more data available, we can provide better forecasts.
- Optionally, enter one or more Target(s) to get a projection of whether you are likely to reach a target value in a specific period (defined by Start and End). You can add more targets by clicking +.
Enter the frequency at which you would like to receive updates on the forecast, we have chosen "Weekly".
- Define the name that will be used in the notification feed. If sent via email, this is also the title of the email.
- A description is helpful if you are using multiple forecasts.
- Message let's you add information in your email.
- If you or another team member wish to receive updates in your inbox, you can simply add the emails to the recipient's email space.
- You will then return to the overview page, where you can trigger the forecast.
Once the forecast has run, you will see it in your Notification Feed and, if selected, you will get an email.
The blue area surrounding the plotted line gives you a good idea of the lower and upper bounds of the forecast.