***** Related Links ***** Forecasting Technique: Exploring Forecasting Logic In Power BI Models blog.enterprisedna.co/forecasting-techniques-in-power-bi-using-dax-formula/ Creating Forward Forecasts In Power BI Using DAX blog.enterprisedna.co/create-dynamic-forward-forecasts-in-power-bi-w-dax/ Predict Future Profitability Within Power BI DAX Functions blog.enterprisedna.co/predict-profitability-for-future-time-periods-with-power-bi-techniques/ ***** Related Course Modules ***** Budgeting & Forecasting portal.enterprisedna.co/p/budgeting-and-forecasting Time Intelligence Calculations portal.enterprisedna.co/p/time-intelligence-calculations Solving Analytical Scenarios w/Power BI & DAX portal.enterprisedna.co/p/solving-business-scenarios-with-power-bi-and-dax ***** Related Support Forums ***** Forecast For Future Period forum.enterprisedna.co/t/forecast-for-future-period/1487 Forecast / Project Forward My Stock Inventory Value forum.enterprisedna.co/t/forecast-project-forward-my-stock-inventory-value/4116 Trend Calculation That Ignores Date Slicer forum.enterprisedna.co/t/trend-calculation-that-ignores-date-slicer/965 For more forward forecasting queries to review see here….. forum.enterprisedna.co/search?q=forward%20forecasting
Question ! i have two Date sets. One showing actuals and one showing forecast. lets say fore example we are in MAY. on a graph chart how do i only show forecast data from May going forward and hide the past. basically the measure will sum actuals to date , then add the remaining forecasts to it. and is there a way to have make it update automatically each month.
Hi there. That's a good demonstration, Sam. However, it would be much better to show how to calculate real statistical measures which are more useful for real-world predictions. For instance, measures like quantiles/quartiles, median, average, 95%-confidence intervals would be much better and more informative. The distribution of daily sales looks to be approximately normal (this assumption could be checked as well using many normality tests that I believe could be implemented as a DAX measure as well) and hence getting the confidence intervals based on the normality assumption would be a very good prediction indeed. Also, we could use some auto-regressive/linear regression models to give predictions about individual days. Of course that would require a little bit more effort but it would be sooooooooooooooooooooooooooooooooo much more useful...
From what I understand this is not forecasting of what your sales will be in the next year. This is essentially in 2017 you are saying this was my sales last year. Or am I missing something?
I currently have a rolling calendar that stops at today's date. How did you manage to do the forecasts for future dates (i.e. dates that aren't in a rolling calendar date table)?
Hi Diane, Thank you for posting your query onto our channel. We really appreciate you taking your valuable time to post it. Well it's always a little bit difficult to judge and provide the results without looking at the data structure, model and working of the PBIX file for the reference. And therefore we encourage you to please write back to us onto our Community Forum by providing the proper description of the problem that you're facing along with the PBIX file for the reference as well as the mock-up results that you're trying to achieve where our members as well as experts team will be able to assist you in a better and efficient manner. Below is the link of the forum provided for the reference. Hoping you find this useful. Subscribe to our RUclips channel so that you don't miss out on any updates pertaining to the Power BI. You can also join our Power BI group on LinkedIn to receive latest updates on Power BI. Below are the links provided for the reference purposes. Cheers, Enterprise DNA forum.enterprisedna.co/ ruclips.net/channel/UCy2rBgj4M1tzK-urTZ28zcA www.linkedin.com/groups/12004506/
There's no "SAMEPERIODLASTWEEK" function, hence how can this be done using 3 months worth of historical data. I'm trying to do a weekly forecast. Thanks in advance
Hello Uche K, thank you for posting your query onto our channel. Well, you can make use of "DATEADD()" function in this case. We're providing few of the links of the articles from our blog posts as well as links of the videos from our Enterprise DNA RUclips channel pertaining to this topic. For furthermore queries, you can also reach out to us onto our Community Forum where our members as well as experts team will be able to assist you in a better and efficient manner. Below is the link of the forum provided for the reference as well. Hoping you find this useful and meets your requirements that you've been looking for. Happy Learning!!! forum.enterprisedna.co/ blog.enterprisedna.co/the-dateadd-function-the-best-and-most-versatile-time-intelligence-function-in-power-bi/ blog.enterprisedna.co/power-bi-time-functions-dateadd-and-more/ blog.enterprisedna.co/power-bi-dateadd-function-time-related-insights/ ruclips.net/video/pioJAenHEMg/видео.html
I have a question, I have a database which is accumulated month by month. I have calculated the current month and prior month...but I need to stop the calculation only in January for accumulated variance.
You could do it with DAX if you have the data available. I guess I'm not quite understanding the multiples values so much. With DAX you can do many different type of calcs and create additional logic and measures
Yes! In power BI if we want to forecast any data, then the only visual where forecasting can be done is in LINE CHART. In the line chart forecasting accepts only 1 value, means we cannot add more than 1 value to forecast in that. So I want to know if there is any other way either by R scripting or any good visual which can provide forecasting for multiple values? Thanks for the help!
Hi, I can see in your demo data that you have transactions everyday, i've don't normaly have transactions on saturday and sunday (might sometimes), how to resolve this?
@@EnterpriseDNA I have the same issue. on the weekends there are no sales, but jump forward/back a year and that date is no longer a weekend. But as there is no sales the isblank is true, so a forecasted value is shown, which means you have values scattered all through the previous years with the forecasted values. some how need to use a test of is the date in the past or future of today.. but not sure how to do this. I have a calendar column which indicates if the date is a past or future date, but not sure how to do the dax in this forecast measure.
Using 2 moving averages is used in finance to see when they cross. If 7-days moving average cross the 21-days moving average down-up it's a signal for buying. Anyway thank you so much for this very useful video.
Then my question is, how the hell do you even have these dates for which you have no sales revenue data in your model? Most people like me, want to make forecasts for data they don't have. In other words, the final date for which I have data in my model is 31-12-2024, and I want to make forecasts for 01-01-2025-31-12-2025. BUT, these dates are not in my model as rows, which is the case in YOUR example.
***** Related Links *****
Forecasting Technique: Exploring Forecasting Logic In Power BI Models
blog.enterprisedna.co/forecasting-techniques-in-power-bi-using-dax-formula/
Creating Forward Forecasts In Power BI Using DAX
blog.enterprisedna.co/create-dynamic-forward-forecasts-in-power-bi-w-dax/
Predict Future Profitability Within Power BI DAX Functions
blog.enterprisedna.co/predict-profitability-for-future-time-periods-with-power-bi-techniques/
***** Related Course Modules *****
Budgeting & Forecasting
portal.enterprisedna.co/p/budgeting-and-forecasting
Time Intelligence Calculations
portal.enterprisedna.co/p/time-intelligence-calculations
Solving Analytical Scenarios w/Power BI & DAX
portal.enterprisedna.co/p/solving-business-scenarios-with-power-bi-and-dax
***** Related Support Forums *****
Forecast For Future Period
forum.enterprisedna.co/t/forecast-for-future-period/1487
Forecast / Project Forward My Stock Inventory Value
forum.enterprisedna.co/t/forecast-project-forward-my-stock-inventory-value/4116
Trend Calculation That Ignores Date Slicer
forum.enterprisedna.co/t/trend-calculation-that-ignores-date-slicer/965
For more forward forecasting queries to review see here…..
forum.enterprisedna.co/search?q=forward%20forecasting
Brilliant! These videos are so, so helpful. Good on ya Sam for making these free.
Very cool use case of moving average for forecasting sales! Love it! Keep up the videos!
Question ! i have two Date sets. One showing actuals and one showing forecast. lets say fore example we are in MAY. on a graph chart how do i only show forecast data from May going forward and hide the past. basically the measure will sum actuals to date , then add the remaining forecasts to it. and is there a way to have make it update automatically each month.
Hi Sam, great video. Just was curious why totals don't show up for the forecast numbers in the table view? Any ideas?
Hi there. That's a good demonstration, Sam. However, it would be much better to show how to calculate real statistical measures which are more useful for real-world predictions. For instance, measures like quantiles/quartiles, median, average, 95%-confidence intervals would be much better and more informative. The distribution of daily sales looks to be approximately normal (this assumption could be checked as well using many normality tests that I believe could be implemented as a DAX measure as well) and hence getting the confidence intervals based on the normality assumption would be a very good prediction indeed. Also, we could use some auto-regressive/linear regression models to give predictions about individual days. Of course that would require a little bit more effort but it would be sooooooooooooooooooooooooooooooooo much more useful...
Great video, could you please clarfiy what is the logic of the forcasting? what is the statistic model the power bi use?
From what I understand this is not forecasting of what your sales will be in the next year. This is essentially in 2017 you are saying this was my sales last year. Or am I missing something?
I currently have a rolling calendar that stops at today's date. How did you manage to do the forecasts for future dates (i.e. dates that aren't in a rolling calendar date table)?
Hi Sjors Koo, we have an available video tutorial on this topic. You can check the video here: ruclips.net/video/t2JTOE76q0E/видео.html
Hi Sam. How would I forecast if my dates are weekly?
Hi Diane,
Thank you for posting your query onto our channel. We really appreciate you taking your valuable time to post it.
Well it's always a little bit difficult to judge and provide the results without looking at the data structure, model and working of the PBIX file for the reference.
And therefore we encourage you to please write back to us onto our Community Forum by providing the proper description of the problem that you're facing along with the PBIX file for the reference as well as the mock-up results that you're trying to achieve where our members as well as experts team will be able to assist you in a better and efficient manner. Below is the link of the forum provided for the reference.
Hoping you find this useful. Subscribe to our RUclips channel so that you don't miss out on any updates pertaining to the Power BI. You can also join our Power BI group on LinkedIn to receive latest updates on Power BI. Below are the links provided for the reference purposes.
Cheers,
Enterprise DNA
forum.enterprisedna.co/
ruclips.net/channel/UCy2rBgj4M1tzK-urTZ28zcA
www.linkedin.com/groups/12004506/
can you please share the link of data your are working with...so that we can practice.
There's no "SAMEPERIODLASTWEEK" function, hence how can this be done using 3 months worth of historical data. I'm trying to do a weekly forecast. Thanks in advance
Hello Uche K,
thank you for posting your query onto our channel.
Well, you can make use of "DATEADD()" function in this case. We're providing few of the links of the articles from our blog posts as well as links of the videos from our Enterprise DNA RUclips channel pertaining to this topic.
For furthermore queries, you can also reach out to us onto our Community Forum where our members as well as experts team will be able to assist you in a better and efficient manner. Below is the link of the forum provided for the reference as well.
Hoping you find this useful and meets your requirements that you've been looking for.
Happy Learning!!!
forum.enterprisedna.co/
blog.enterprisedna.co/the-dateadd-function-the-best-and-most-versatile-time-intelligence-function-in-power-bi/
blog.enterprisedna.co/power-bi-time-functions-dateadd-and-more/
blog.enterprisedna.co/power-bi-dateadd-function-time-related-insights/
ruclips.net/video/pioJAenHEMg/видео.html
@5:27 Can you explain why the Total Profit Forecast does not Total?
very enlightening case, thanks for sharing
I have a question, I have a database which is accumulated month by month. I have calculated the current month and prior month...but I need to stop the calculation only in January for accumulated variance.
See here for some ideas on this - ruclips.net/video/YwEtrvJQVC8/видео.html
Hi! Is there any way we can add multiple values for forecasting instead of one? Thanks for the help.
Sure you have almost unlimited potentials when working in Power BI with DAX. Just have to know how to structure it.
Thanks! Just want to know if adding multiple values to forecast is possible using any current visual or by using R scripting in power BI? Thanks
You could do it with DAX if you have the data available. I guess I'm not quite understanding the multiples values so much. With DAX you can do many different type of calcs and create additional logic and measures
Yes! In power BI if we want to forecast any data, then the only visual where forecasting can be done is in LINE CHART.
In the line chart forecasting accepts only 1 value, means we cannot add more than 1 value to forecast in that.
So I want to know if there is any other way either by R scripting or any good visual which can provide forecasting for multiple values? Thanks for the help!
Hi, I can see in your demo data that you have transactions everyday, i've don't normaly have transactions on saturday and sunday (might sometimes), how to resolve this?
Sure, what exactly do you need to solve? That's quite common, and the blanks will likely not be shown in the visuals.
@@EnterpriseDNA I have the same issue. on the weekends there are no sales, but jump forward/back a year and that date is no longer a weekend. But as there is no sales the isblank is true, so a forecasted value is shown, which means you have values scattered all through the previous years with the forecasted values. some how need to use a test of is the date in the past or future of today.. but not sure how to do this. I have a calendar column which indicates if the date is a past or future date, but not sure how to do the dax in this forecast measure.
Great, where can i download this file?. Thanks
Link in description for the video. Thanks
Hi! Help me pls. I can't understand how to calculate a SUM of the Year? I mean Current total + Forecasted total.
Can you elaborate a bit? As there are a number of variables that need to be taken into consideration with that type of question.
Doesn't work if you have empty years on your dimension because of the divide by 3, if only 1 year has data, the calculation breaks.
Nice to see. But using moving average is not done at finance figures.
Sure, it's just one technique. What other ones would you like to see?
Enterprise DNA not particular a topic. I am just learning from your DAX experience on yt.
Using 2 moving averages is used in finance to see when they cross. If 7-days moving average cross the 21-days moving average down-up it's a signal for buying. Anyway thank you so much for this very useful video.
Then my question is, how the hell do you even have these dates for which you have no sales revenue data in your model? Most people like me, want to make forecasts for data they don't have. In other words, the final date for which I have data in my model is 31-12-2024, and I want to make forecasts for 01-01-2025-31-12-2025. BUT, these dates are not in my model as rows, which is the case in YOUR example.