Supported Operating System(s):Web browser (OS agnostic), Windows 8, Windows 10
ForecastX offers a forecasting solution that helps business around the globe to better growth. Giving you and your forecasting team the best of both worlds: unparalleled statistical power on the one hand combined with the proven flexibility of Excel, and incredible ease of use.
ForecastX gives you the power to deliver accurate forecasts in minutes, rather than hours or days. The best-fit algorithm ‘Procast’ is widely recognized as providing the industry’s standard in world-class accurate statistical forecasting.
Forecasting ideally is a collective endeavor: ForecastX helps planners to do just that by enabling collaboration both with internal and external stakeholders. This in turn helps to turn good forecasts into better forecasts th...
2 Reviews of ForecastX
5.00 / 5 stars
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Elizabeth from Trifecta
Company Size: 11-50 employees
Industry: Consumer Goods
Time Used: Less than 2 years
Review Source: Capterra
Value for money
We were forecasting with Excel formulas and dealing with huge swings of over or underproduction, and both were costing us. ForecastX was a great investment and immediately improved the accuracy of our forecasting (from 78% to 95% accuracy). The one on one training helped us dial in our forecasting methods and now we're confident in our numbers; it’s relieved a lot of pressure through our whole process!
-It took away a lot of manual work we were doing -It helped educate our team on a number of different ways we could be forecasting that we hadn't considered -I actually purchased the book that goes along with the software and it goes through the basics of forecasting all the way into different use cases and sophisticated strategies to consider
Currently we only have one team member using the forecasting software so it works great. If we wanted more visibility from other team members into the software, I believe we'd need to buy another license, not really a downside, just a consideration to keep in mind.
Barry from University of Notre Dame
Company Size: 1,001-5,000 employees
Time Used: More than 2 years
Review Source: Capterra
Value for money
Easily Mastered, but Powerful in Use!
I have used ForecastX for more that a decade; competitors have come and gone. During that time ForecastX has been improved, formats have been updated, and many new features have been added, This is not a static package. No other competitor offers more support than ForecastX; if online support is not enough, it is easy to reach a real person to help solve your issue. ForecastX provides both online and face-to-face training for its product. You might be surprised how much you can learn in a day or two, even if you are starting from scratch!
ForecastX is not just a single piece of software; it is a progressive tool that grows with the user. The ForecastX Wizard (an Excel add-in) lets the new user begin with a powerful suite of tools which can be mastered one at a time with a great user manual and help feature. When the user requires more collaborative tools, or easier access to corporate data, the Atlas tool can be used. Interestingly, everything learned in the Wizard is immediately applicable, with identical menus and options in, Atlas. The graduated menu system guides both new and very skilled users in selecting appropriate options for each type of model available. Every classical forecasting technique is present in ForecastX, as well as a number of newer, forward looking tools. You could think of the tools (or models/algorithms) as divided into two categories. First, all the standard time series models are available (e.g., moving averages, all the smoothing models, decomposition, etc.) with some additional feature add-ones that are unavailable in software such as SAS or SPSS. Secondly, all the demand planning, or causal, models are also included. Every technique will display a complete set of diagnostic statistics that let the user evaluate precisely how well the model is likely to perform in the real world. Numerous graph options are provided in the results. There is nothing “behind the veil” here! The user can see exactly how the results were achieved; this is not “black box” software.
Because the results, both numeric and graphical, are presented in an Excel compatible format, it is easy to export results in a number of ways. But perhaps the exporting features could be strengthened.