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.
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?
No, just the usual formula
Here's a link to the sisense documentation, if it's helpful. https://docs.sisense.com/main/SisenseLinux/forecasting-future-results.htm#AddingForecaststoWidgetsWhich parameters are you using for "order month" and "Sales", are you in the sales and ticketing cube? I can try to recreate on my end and see if I get the same result.
I am in the Seats and Tickets cube, I'm using 'Order Date' > 'Calendar Month Sort' for the 'Order Month' X-Axis. Sales is 'SUM(Ticket Count)'
Hi Nate - try using Order Date>Date and select Months there.
That did it!
Thank you to you both!