Forecasting

Forecasting is an intelligent business tool that assists you in the critical planning of your staffing, inventory, and production needs. Forecasts are created from many key historical inputs such as gross or net sales, discounts, cover counts, and menu item sales quantities. Forecasting provides high-level visibility throughout the enterprise by displaying rolled-up forecast values to the highest levels within the organization. Likewise, the tool provides ultimate enterprise control through definable rules limiting forecast deviation, Forecast Score Cards, and the approval process, to name a few. Forecasting is specifically designed to catapult your sales by eliminating product waste and streamlining your operational tasks.

The Forecasting application allows you to apply historical data information to forecast future sales for the Scheduling application. You can create, store, display, and edit forecasts as the situation demands. Forecast inputs are derived from POS historical data that is uploaded to the web-based Forecasting application. Forecasting allows you to:

• Maintain historical information based on pre-determined intervals (usually 15 or 30 minutes)

• Apply current week’s data and last year’s historical data

• Aggregate forecasts for historical types, such as bar sales versus restaurant sales

• Edit incorrect or inexact historical data prior to generating a forecast

• Define historical information about events that affect business trends such as holidays, weather, or cultural and local events

• Edit generated forecasts for a particular day part (for example, brunch or evening), day, or week by adjusting monetary values or percentages

• Review the source data from which the forecast was generated

• Control approval of forecasts by providing security access to the application