I was having a review of the wonderful sales pacing dash and thinking about targets and forecast.
I'm wondering if/how people have gone about forecasting a final position based on prior performances and what they used in formulas.
eg:
I was keen to play with sames pacing based on an adjusted forecast target.
Can you tell I'm keen for v16 and predictive modeling?
I've been struggling with this a lot this planning season, because post-covid things have been so different (sales-wise) vs pre-covid. I ended up calculating my forecast three different ways. I ended up with $1.2M, $1.3M, and $1.4M which are relatively close to eachother, so I'm considering those my low, mid, high estimates.
Here are my three models
1) Use comparable productions (same theatre, time of year, title recognition, age rec) to get an average $ per performance (I break out school and public perfs). Multiply that by the number of performances in expected run to get the total expected income. This was the middle number.
2) Looking only at post-covid seasons or most recent season only, grab your average revenue per performance (broken by theatre and school/public). Multiply that by your number of performances. This was the lowest number I got.
3) I took a combination of the methods above. I used the expected percent capacity as determined by the comps (with some exceptions where I had reason to alter it somewhat) and multiplied that by the post-covid average ticket price and the number of performances in the forecasted production. This was my highest number.
I'm interested to hear which route you are taking.
Hi Heath Wilder we're on v15.2.36 now and have the new forecasting functionality. I've only just started playing with it. Wondering if you've gotten there yet? I think it was available as of v15.2.34 but I had so much trouble with that transition and troubleshooting analytics issues that I didn't notice.
Hey friend,
Not yet. We just (on Wednesday) switched to Hosted and dice our upgrade to 15.2.33 (from 15.0.22) have sat on that. Also with all the pain folks had with the subsequent point upgrades it wasn't worth it. I might show it to my exceptional AI team and get their needs.
(Finally on Hosted so now I'm back with analytics access I can host analytic coffee back here again!!)
Congrats! AI team-that sounds fancy.
Does forecasting come with 15.2.36 and onward? I had thought it was only v16
Yes! It came with the new version of Sisense which came in v15.2.34. I've just started using it. Fun stuff. You can do forecasting (as seen below) and add trend lines.
Good to know! How do I set it up for a widget? I've been clicking around but haven't found a how-to yet, or an obvious set of buttons.
Here's the documentation on forecasting (it's for v16 but will still work the same in v15.2.34+): www.tessituranetwork.com/.../Forecasting-Future-Results.htm
Thanks! I'm following the documentation as best I can, but don't see any 'Analyze This!' icon.
Looking at mine, it shows up after hovering the mouse over the value. "Sales" in your case. Does that work?