Forecast algorithms
Updated 2 months ago
by
Leigh Hutchens
- Automatic Forecast predictions
- The Forecast algorithms
- Last Year Same Day
- Quinyx AI Demand Forecasting
- External Prediction
- Where will the prediction be made visible and how?
- How do I activate this?
- How do I configure the algorithm?
- What other configuration is needed?
- How do I initiate it manually?
- How do I follow up on the historical runs and logs?
Automatic Forecast predictions
It's possible to have your Forecast predictions in the future to be done automatically based on your historical data.
The Forecast algorithms
There are currently three different methods you can use to generate Forecasts, two are performed by Quinyx, and the third is an option to connect a third party prediction service to Quinyx, allowing the forecast to be generated elsewhere and then presented in Quinyx.
When adding a new Forecast algorithm (see How do I configure the algorithm below), you are presented with three choices:
Last Year Same Day
This algorithm automatically copies the actual data for your previous years forecast as a forecast for the current year-to-date ahead. You have the option to add a modifier as an increase or decrease in percentage on the previous years data.
Quinyx AI Demand Forecasting
More information will come soon.
External Prediction
This method allows a third-party solution to push forecasted data into Quinyx through the API using POST /predicted-data:
POST /predicted-data
With this operation, you can upload predictions from external tools used for predicting sales, transactions, etc., that optimal staffing rules will use to define staffing needs:
- externalForecastVariableId - ID for a variable as set up for units in Account settings→Forecast→Variables→External ID.
- externalForecastConfigurationId -
- externalUnitId - External ID for a unit as set up for units in Classic → Settings → Tables → integration keys
- externalSectionId (optional) - External ID for a section as set up for units in Classic → Settings → Tables → integration keys.
- runIdentifier - A value to be set if external system sends multiple predictions for the same date range.
- runTimestamp - A value to be set to define when the predicted data was generated. In the future, Quinyx will use this value to compare different predictions if they exist.
- forecastDataPayload
- Data - the amount of the external prediction.
- Timestamp - the time of where the amount should be placed in UTC format 2020-04-09T20:45:00+01:00.
Where will the prediction be made visible and how?
The outcome of the algorithm's prediction will be used in statistics variable as the prediction for that specific variable. If you would have input data such as sales, when you have uploaded 24-36 months of historical data so that the algorithm has many seasonalities to work with it will produce this as a row in the table view in statistics or a line in the graph view.
Read more about forecast in statistics here.
How do I activate this?
If you already have Quinyx Forecast up and running today please contact support and they will help you with the behind-the-scenes activation of the algorithms. After that is done you will only have to follow the instructions that follow.
If you do not have Quinyx Forecast today but is eager to know how using automated predictions together with optimal staffing rules to help your managers make even better schedules for your employees, then contact sales@quinyx.com
How do I configure the algorithm?
The algorithm is configured by creating a new configuration. This is done from Account settings -> Forecast configuration -> Add new forecast configuration
Forecast formula now offers the choice "Quinyx forecasting algorithm", when selecting that formula you are presented with additional choices. This to be able to schedule when the algorithm runs
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What other configuration is needed?
In order for the algorithm to be able to take public and bank holidays into account, the country needs to be correctly configured on the unit(s). Read more about how to configure this here.
How do I initiate it manually?
In some cases, you might not want to wait a full week before the algorithm runs. This could be because of testing during an implementation phase or that lots of new input data has been added historically that may affect future predictions. This is available from Account settings -> Forecast configuration and by interacting with the more details icon.
In this detail panel you will be able to see the statuses of the previous runs and can initiate a new run
How do I follow up on the historical runs and logs?
You will be able to follow up the log from Account settings -> Forecast configuration and by interacting with the more details icon as described above.
