Predict Projections
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Predict Projections

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Article summary

Predict Projections helps plan your budget/forecast scenarios in 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.

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

  • The Projections AI engine requires a minimum of 36 months of historical actuals to generate proper data-driven Projections. However, Planful recommends that there are at least 48 months of historical actual scenario data.
  • At the moment, Predict Projections are supported only for the GTSC and GTEC templates of the GTSC family of templates for the Flow MTD accounts.
  • Budget entities of the supported templates should be mapped to G/L Data LC (Or LC=CC) and not be configured to use Dimension Attributes.
  • Predict Projections will work only for the 'L' type lines on the GTSC template. 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 saved. 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.
A few of these rules will get updated every release based on updates made to the product.

Directly seed AI projections into scenarios using the Preloaded Budget option in the Scenario Type drop-down and selecting the Predict Scenario check box in the scenario creation process. 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.

In Practice

  1. To pre-populate a template with AI projections, perform the following steps:
  2. Go to Maintenance > Admin > Scenario Setup to access the Scenario List page.
  3. Select the Add Scenario option.

  4. In the General Information section of the Add Scenario page, select Scenario Type as Preloaded Budget.
  5. 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.
    Scenario seeding(2)
  6. Save the scenario.
    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.
Using this preloaded Predict Scenario, you can fill both budget and forecast scenarios with AI 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 template 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 Scenarios, Plan Scenarios, and Forecast Scenarios.

In Practice: Seeding Scenarios with Predict Projections

  1. Navigate to Maintenance > Administration > Scenario Setup.
  2. On the Scenario List page, click the Add icon.

    The Add Scenario page appears.

  3. After you have entered the required details in the General Information tab, click the Data Seeding tab.
  4. Check the Seed from Predict Projections checkbox.
    New Data Seed
  5. 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.
  6. Click the Save icon once done.
    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.

The Predict Projections feature is supported only for the LIT, GTSC, and GTEC templates of the GTSC family of templates for the Flow MTD accounts.

To access Predict Projections, perform the following:

  1. In your application, navigate to Structured Planning and select a Scenario of your choice.
  2. Choose a Template, and click Input from Template Workflow.
  3. You will now see the Predict Projections button available in the top menu bar. You can access Projections from this menu button, or from the context menu when you right-click on any cell for the same option with both  Fill All Lines, Fill Selected Lines, and Adjust Projectionsfeatures.

Fill All Lines

You can use the Fill All Lines feature to automatically fill system-generated AI projections into the entire template for the duration of the budget or forecast. This feature does not allow you to adjust or change the value of the projections. This feature supports the generation of AI projections for a maximum of 100 lines at a time. This option fills only the supported L-type lines, sufficient historical actuals, and no excluded GLs.

Fill Selected Lines

You can use the Fill Selected Lines feature to automatically fill system-generated AI projections into the selected lines for the entire duration of the budget or forecast. This option fills only the supported L-type lines, and among the L-type lines, the ones with an adequate amount of Flow MTD account historical actuals. This feature does not allow you to adjust or change the value of the projections. This feature supports the generation of AI projections for a maximum of 50 lines at a time.

Adjust Projections

You can use the Adjust Projections feature to generate projections for a single line and adjust the Projections annual total according to your budget by still leveraging the AI engine.

So, irrespective of the previously generated AI projections, if you have a specific budget in mind, you can choose the Adjusted Projection option from the Projections pop-up window and redistribute the figures for the open periods in a data-driven fashion that will still adhere to the trend and seasonality present in the data.

Following are the various features available in the Projections pop-up window.

  1. Template Dimensions: The dimensions of the selected Template are displayed.
  2. Input Row: You can use this row to change the selected row/line, change the year for which the Projections are being displayed, view the Current Total budget, and the Projected Total budget.

You can also use this row for providing the Adjusted Projection.

Adjusted Projections

You can adjust the current projection by a certain percentage or by a certain value. Once you have provided your input in this field you must click Apply.

Finally, you have the Update Template and Reset buttons in the input row.

You must always click the Update Template button to save your changes to the Projections in the Projections tab and fill them in the template. Otherwise, all changes made in the Advanced Projections pop-up window will be lost.

The Reset button can be used to reset the adjusted projection to the previous values as per the template.

Data Table and a Graph: The graph displays the same information visually intuitively, displaying the Projections. The graph has the upper and lower ranges and the forecast scenario by default. Still, it lets you see the historical actuals on it by clicking on the actual data label displayed below the graph. The pop-up window displays data for all the months in the entire fiscal year to demonstrate the trend and seasonality present in the data; this helps better understand the Projections.

  • 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, which is 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.

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