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How to set up a Live forecast: configuration settings

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There are several ways to configure the Live forecast which will affect how the Live forecast is calculated.  

Changes are done using configuration settings via the tools icon in the top right corner of the screen. This is only visible to users with appropriate access rights. 

Room revenue Live forecast 

  1. Enable Live Forecast Arrivals, Departures, Stay-Overs: Enable this to activate the forecast module for arrivals, departures and stay-overs. If not activated, OTB values are used in cockpits. 
  2. Segments: Enable this to use segments.
    1. Forecast on day total: This will show Segments as information only, and forecasting will be done on day total. If this is not selected, forecasts will be done at segment level. 
  3. OTB: Enable to show On The Books in Live forecast view.
    1. Tentative OTB – Room nights: Show tentative OTB as an information column in the Live forecast. This will not affect forecast. 
    2. Tentative OTB – Revenue: Room nights: Show tentative OTB as an information column in the Live forecast. This will not affect forecast. 
  4. Live forecast update method
    1. Auto: PMI prediction updates daily.
      1. PMI will automatically create the Live forecast using PMI Prediction. The Live forecast can be edited for a day if needed by using the pickup column. 
    2. Auto: Updates when new external file is imported: This updates the live forecast when an external forecast file is imported to PMI. This is only possible if an import file is available. The forecast can then be manually overwritten by using the pick-up column. PMI prediction will still be visible as a reference column. 
    3. Manual: User updates manually. No automatic forecasting is used. User needs to manually input forecast values for all days. 
  5. Decimals used: Input the number of decimal places that should be visible in Live forecast. 
  6. Exclude from RevPOLU: This is useful, for example, when creating a Live forecast for revenues that are not a part of normal operations. E.g., rental income, membership fees etc. 
  7. Allow negative Live forecast: This can be used, for example, if your segment or profit center is used for corrections, customer reimbursements, etc. 
  8. Use ARR pickup calculator for manual forecasts: Selecting this will include OTB ARR in Live forecast. If not selected, the user will need to manually enter expected end-result for ARR. 

Other revenue Live forecasts 

  1. Enable Live Forecast import: Use this to import Live forecast from an external source. 
  2. Food revenue: Use this to select how food revenue forecast should be calculated. It is either based on last year, last x days, or a percentage of total revenue. 
  3. OTB: Enable to use On the Books data in the Live forecast. Depending on the next settings it can be used as forecast, only for information, or in combination with a driver.
    1. Tentative OTB: Revenue: Enable to view tentative OTB in a column. This will not affect the forecast 
    2. Information only: Enable this to view OTB in Live forecast page, without it affecting the forecast 
  4. Driver based: Forecast will be automated based on selected driver. The Live forecast can be manually overwritten either by using the pick-up column, or by selecting the robot icon by the date in the Live forecast table.
    1. Use PMI machine learning algorithms: Use the automated detection of drivers done machine learning algorithms. This is recommended if you have more than 1 year of historic data in PMI. If disabled, a manual driver must be created. 
    2. Auto-save when driver updates: When enabled, the Live forecast will be updated and saved automatically if any of the sources used in the driver are updated. Otherwise, the Live forecast will have to be manually saved to include any changes.
      1. If ML (Machine Learning) drivers are used, this option is greyed out: It will always be automatically updated. 
    3. Use only OTB for the next X days: For the X number of days, the driver value will be disregarded and the OTB value used as the base for live forecast. How many days in advanced do you expect to still sell more? Within the X days specified, you don’t expect more to be sold. 
    4. Use only OTB when above X% of driver value: If the OTB value is X % of the driver value, the driver will be disregarded and the OTB is used instead (range 0-99%). 
  5. Decimals used: Set the number of decimal places you want to see in the Live forecast values. 
  6. Exclude from RevPOLU: This is useful, for, example when creating a Live forecast for revenues that are not a part of normal operations. E.g., rental income, membership fees etc. 
  7. Allow negative Live forecast: This can be used, for example if your segment or profit center is used for corrections, customer reimbursements etc.