Forecasting in Allocadia

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In Allocadia, Forecasting is the on-going cost estimate of Marketing Activities as the marketer executes on the activities up until the invoices are received and inputted into Allocadia. The Forecast Column differs from the Plan Columns, as the Plan Columns are recommended to only be used at the beginning of the budgeting and planning phase for your organization to record their original bottoms-up plan. This serves as a baseline that your team can compare your Forecast to throughout and at the end of the fiscal year.

It is crucial that your team records their up-to-date estimates on their spend as they carry out their day to day operations in the Forecast Columns. The Forecast Columns in Allocadia will allow them to estimate whether they will be spending more or less than their original plan before the expenditures are recorded and imported into Allocadia to compare. The Forecast is then used to also better gauge how much in actuals are roughly still expected. If your Forecast is $1200, and to date, your Actuals/PO amounts that have come through are $600, you would still expect to see another $600. Throughout the year, you typically want to compare Plan vs Actual, Forecast vs Actual and Plan vs Forecast. You would stop updating the Forecast when you have no more estimate changes for that period.

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