Predict Projections

Predict Projections helps plan your budget/forecast scenarios using a data-driven approach as part of Structured Planning. {{variable.Predict Projections}} generates future projections using Planful’s proprietary AI/ML algorithms through the {{variable.Predict Projections}} AI engine.

Prerequisites

There are specific functionality rules for Predict Projections that are listed below.

• The Projections AI engine requires a minimum of 24 months of historical actuals to generate proper data-driven Projections. However, Planful recommends at least 36 months of historical actuals
• Predict Projections are supported for all GTSC, GTEC, LIT, and Allocation template account types. 
• Predict Projections will work only for the 'L' type lines. RA lines, H, and C-type lines are not supported.
• If the line has any spread method or formula applied, you will get a pop-up message to confirm if you want to go ahead with projections that would overwrite the formula cells.
• You can generate projections for smaller templates of 100 lines using the Fill All Lines option. You can select a maximum of 50 lines at a time to generate projections through the Fill Selected Lines option and only one line through the Adjust Projections option.
• You must Save the template after generating projections for the projected numbers to be stored. If you refresh the page or close the page without saving the template, projections will be lost and you will have to generate the projections again.
• Projections always apply to the Open periods. Closed/locked Periods remain unaffected.
• If you have multiple history lines mapped to a single posting line, the system would consider the historical actuals of all the mapped lines and aggregate them to get projections for the posting line. Essentially, when the projection happens for the posting line, it takes into account all the aggregated actuals of the mapped lines.
• Currently, the system assumes that there are no multiple postings from the same line via different methods or templates.

Preloaded Budget Scenario Seeding

AI projections can be seeded directly into scenarios using the Preloaded Budget option for Predict Scenarios. You can create a template prefilled with AI-generated projections to generate more data-driven forecasts and reduce the manual efforts required to create baseline budgets. Templates filled with AI projections are a great start to building baseline budgets and forecast scenarios. 

How to Seed Preloaded Budget Scenario Templates with Projections?

To pre-populate a Preloaded Budget Scenario template with AI projections, perform the following steps:

1. Go to Maintenance > Admin > Scenario Setup.
2. On the Scenario List page, click the Add icon.
   
3. In the General Information section of the Add Scenario page, select the Scenario Type as Preloaded Budget.
4. Check the Predict Scenario check box; this will prefill the Scenario Code with a prefix of Predict_Scenario_. You can then add a meaningful suffix to identify the scenario.
   
5. Save the scenario.
   When you map these scenarios with a template, it auto-fills the template with AI projections. You can then use this scenario during the data seeding of other scenarios to pre-populate templates with AI projections. Also, you can use the preloaded Predict scenario in Dynamic Reports for further analysis.

Seed from Predict Projections

Seed from Predict Projections is the capability to seed scenarios in templates from the Predict Projections Engine while creating new scenarios. Once you enable the Seed from Predict Projections option in Scenario Setup, the selected templates will be filled with projections honoring the history-mapped lines of those templates with data-driven forecasts. The scenario types supported for seeding from Predict Projections are Budget, Plan, and Forecast Scenarios.

How to Seed Templates with Projections?

To seed a template with AI projections, perform the following steps:

1. Navigate to Maintenance > Administration > Scenario Setup.
2. On the Scenario List page, click the Add icon.
   
   The Add Scenario page appears.
3. Fill in the required scenario details in the respective fields.
   
4. After you have entered the required details in the General Information tab, click the Data Seeding tab.
5. Check the Seed from Predict Projections checkbox.
   
6. Optionally, you can select the reference scenario type as Budget, Plan, or Forecast from the Scenario drop-down list, and select the required elements you want to copy while seeding by checking the checkboxes.
7. Click the Save icon once done.
   Note:

   Once the scenario is set up, the templates will be automatically filled with projections honoring the history-mapped lines whenever the user opens the template.

Limitations for Projections Generation

• Currently, Predict Projections do not work with Custom Timeset. If you have a template with Custom Timeset, the Predict Projections option will not be available in that template. You must create a template with Default Timeset for Projections to be enabled for the template.
• When the same dimension intersection is planned from multiple sources (e.g. planning from multiple templates), Predict Projections may not generate reliable projections. (applicable for non-FAAS tents only)
• When the Projections Engine does not find enough Historical Actuals (it requires at least 3 years of actuals for all the months, ie: 12 x 3 = 36 data points), it cannot generate projections and displays an error.
• Predict only enables fiscal year setups of 12 months; any setup other than 12 months will not be supported.
• Projections cannot be generated for sublines.
• Projections cannot be generated for the lines with excluded GL combinations.
• Sublines and lines without Destination Account mappings are excluded from Projections generation.