Can Promax PX detect and deal with any outliers identified in sales and the forecast by pre-defined parameter settings? Examples of parameters include but are not limited to: highlighting ‘abnormal’ sales versus, forecast that lies outside of defined confidence bands or ranges, forecasts that drop out or are removed.
Promax PX is configured to automatically track the deviation of the Forecast Model VS Actuals Data that is loaded into the system. The Actuals data can be drawn from a variety of sources (Scan, Ex-Factory, Warehouse Withdrawal etc.). When the Actuals interface is run there is a background task that tracks the Actuals information against what has been predicted by the model.
By default, Promax PX will allow 4 standard deviations away from the standard error of the model before it highlights the model as needing to be recalculated. The Standard Error Multiplier (number of standard deviations) can be defined by the user if desired.
Promax PX stores both the Statistically Calculated Forecast and the User Entered Values. Promax AnalytX can be used to actively alert / report on a specified deviation away from that value.
Does Promax PX have the ability to determine forecast accuracy by analysing the different forecast methods used and suggest switching forecast calculation method to a more suitable calculation? Metrics to be available at multiple time fences to judge accuracy by area of responsibility.
Promax PX uses a tournament methodology to select the model of best fit when selecting the ideal statisitical model for an account and SKU combination. Promax PX will not automatically re-calculate the model or change the models coefficient configuration. This needs to be done by a user and can be run as a batch process.
Promax PX is configured to automatically track the deviation of the Forecast Model VS Actuals Data that is loaded into the system. The Actuals data can be drawn from a variety of sources (Scan, Ex-Factory, Warehouse Withdrawal etc.). When the Actuals interface is run there is a background task tracks the Actuals information against what has been predicted by the model.
By default, Promax PX will allow 4 standard deviations away from the standard error of the model before it highlights the model as needing to be recalculated. The Standard Error Multiplier (number of standard deviations) can be defined by the user if desired.
Promax PX is currently only configured to look at the deviation of Standard Error VS Actuals however other calculations could be added.
Does Promax PX have the ability to automatically search the most indicated statistical algorithm and related parameters to match a given historical series of data and create a warning if the current forecast is outside a range that the statistical forecast is suggesting?
Promax PX is configured to automatically track the deviation of the forecast model vs actual data that is loaded into the system. The actual data can be drawn from a variety of sources (Scan, Ex-Factory, Warehouse Withdrawal etc.). When the history interface is run there is a background task that tracks the actual value against what has been predicted by the model.
By default, Promax PX will allow 4 standard deviations away from the standard error of the model before it highlights the model as needing to be recalculated. The Standard Error Multiplier (number of standard deviations) can be defined by the user if desired.
Does Promax PX have the ability to highlight to the user that changes made to a plan are outside of predefined tolerances to trap abnormal forecast entries that have the potential of being incorrect?
Promax PX stores both the statistically calculated forecast and the user entered values. Promax AnalytX can be used to actively alert / report on a specified deviation away from that value.