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Can I forecast future years for accounting data?

Kristian B. Joergensen

OAS 7.0

I am attempting to make a forecast for future accounting data based on previous years og transaction. At this point it is essentially the attributes "Year" and "Amount". I have data from 2016 onward and would like to create a forecast for 2024, 2025 and so on.

My problem is that I don't really understand how to make to make the forecast appear in the workbook. I am using a linechart, applying the forecast and then I cannot really see the forecast, although the statistics option to apply forecast does appear greyed out.

Is it something I do not understand here? Is this intended use, or not really? My user story is that I want to use historical accounting data to make an indication of budgets for the next 4 years, ideally broken down by some more attributes like department.

Thanks in advance!

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Accepted answers

[Deleted User]

Hi Kristian,

It all depends on your data types.

Here's Amounts by Year and the Year is of data type "Text":

Here's Amounts by Year and the Year is of data type "Number":

Here's Amounts by Year and the Year is of data type "Date":

And bingo...here's your forecast :)

All comments

Sumanth V -Oracle

@Kristian B. Joergensen

You need to have a measure column then you will be able to use Forecast without any issues.

In the below example it's displaying forecast of Revenue by Year, where Revenue being a measure.

Kristian B. Joergensen

That is what I am attempting to do. The one with the grey background is the one with forecast turned on, but it looks the same (and the numbers are also the same) - I had expected there to be a 3 more years on the x-axis, a confidence interval and a line for 3 more years based on the attribute year (år) and measure amount (beløp).

Am I missing something?

[Deleted User]

Hi Kristian,

It all depends on your data types.

Here's Amounts by Year and the Year is of data type "Text":

Here's Amounts by Year and the Year is of data type "Number":

Here's Amounts by Year and the Year is of data type "Date":

And bingo...here's your forecast :)

Kristian B. Joergensen

https://community.oracle.com/products/oracleanalytics/discussion/comment/51980#Comment_51980

The data type for år (year) is Date (unless there are specific date datatypes that I am not using), which I am using.

As linked in my pictures I am able to choose the forecasting option, there just seem to not appear, which is why I am a bit confused.

Philippe Lions-Oracle

@Kristian B. Joergensen , this is the right-click way of doing forecast on your viz. Should work exactly as @Christian Berg described (https://youtu.be/N0PNjTtHsyI), let us know if not.

In addition to this, you can also

manually build logical calculations on your workbook with the forecast formula, that should enable you to visualize and aggregate the results as well (https://youtu.be/1WoWCOoOGRQ)
or, persist forecast calculations using data flows. There are many options to do time series forecasts using dataflows, which will persist the results in a dataset (this video shows you the example with Database analytics, but there is another option as well wihtout the dB https://youtu.be/LuMTLlhq2-M)

Let us know if you need more details on these

Kristian B. Joergensen

https://community.oracle.com/products/oracleanalytics/discussion/comment/51982#Comment_51982

This solved it for me, it seems that there was indeed something "wrong" about my year attribute, so I exported the historical data, and the viz worked right away when I uploaded it.

Thanks to all contributors, I am always amazed on how quickly my problems are solved.

Steve F-2

This is not the case here, but to add to the conversation for future readers, ensure that you do not have any null value/(s) in your date fields (x-axis). There is an issue wherein null values get treated as 01/01/1900 which will skew the result. So, you could get similar output results. This is being worked on, and resolved soon.