Rolling Forecast is a planning technique that combines YTD actual data and budget/forecast for the rest of the year. Some important differences between the Annual Budget and Rolling Forecast are listed below.
|Annual Budget/Forecast||Rolling Forecast|
|Prepared once a year||Periodically re-forecasted|
|Prone to failures and restricts flexible thinking||
Accelerates performance and decision making
In this blog, we take a look at creating a Rolling Forecast for your organization using ValQ on Power BI in just a few steps.
In ValQ’s Plan tab, we can combine the actuals with budget/forecast by using the ‘Add Series’ option that is available on the New Series pop-up.
Let us take an example where we create a rolling forecast for the fiscal year 2021 at the end of Feb 2021. Here we take the values from 2021 Actuals data series for YTD (Jan and Feb) and 2021 Budget data series for Mar – Dec 2021 using Add Series.
The Rolling Forecast Series has been created for 2021 with forecast starting from March 2021.
Now, you can go ahead and update the planning data series to suit your business needs and perform variance analysis between actuals & rolling forecast under the Analyze tab on ValQ in Power BI.
To learn more about how you can plan better for 2021 and to see Rolling Forecast in action, click here to watch our webinar on How to make your 2021 planning season successful?
Also, click here for a blog on How you can speed up your planning process?
If you have any good cases for ValQ or stories to tell about how a such solution can benefit you, please reach out to us.
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