The Revenue Center Forecast summarizes the short-term forecast for the upcoming week, for all revenue centers. It is used to establish resource requirements, while comparing the accuracy of your projection and LMS's statistical projection. It is then printed and distributed to revenue center managers and discussed at the weekly forecast meeting. By the end of this meeting, revenue center managers should be prepared to provide final edits to their forecast.
Click image to view a sample report.
Key information
- The preliminary information for available guest calculations (if used) comes from the Sales, Catering, or Banquet departments. The final forecasts come from the revenue center department heads or designate.
- Each revenue center consists of multiple periods, with their own KBIs.
- This report summarizes by revenue center.
Report options
| Option | Description |
| Display | |
| Period End Date | Select the end date for the report. |
| Revenue Center | Select the check box for the revenue centers to include in the report. |
| Select All | Click to select all check boxes for revenue centers. |
| De-Select All | Click to clear check boxes for all revenue centers |
| Page break between revenue centers | Select to insert page breaks between each revenue center in the report. |
Running the report
- In the toolbar, click the Report icon (
). - From the drop-down list, select Labor > Forecasting > Revenue Center Forecast.
The Revenue Center Forecast report screen appears. - In the Period End Date field, enter an end date by doing one of the following:
- Type the end date.
- Select the end date from the calendar menu
- Click the arrows to select a date.
- In the Revenue Centers table, select the revenue centers that you want to be included in the report. You can select any or all of the revenue centers listed.
- Select or clear Page Break Between Revenue Centers.
- Click the Run icon (
).
The report appears.
Report terms and definitions
| Term | Definition |
Actual | Displays the actual business volume per segment that occurred on that day. This information is available after the forecast week has taken place. |
Stat Forecast | Displays Watson's forecast per segment based on forecasting methodologies established in the system configuration process. |
Stat Variance | Displays the variance between actuals and the statistical forecast per segment. |
Manager's Fst | Displays the manager's forecast that you generated. These are the numbers that you feel the unit will do based on your experience. Watson will plan labor based on your edits. |
Manager's Var | Displays the variance between actuals and the manager's forecast. |
For revenue centers that calculate the size of the available guest market to forecast covers or dollars based on a capture ratio, the following is also available:
| Term | Definition |
Actual Available | Displays the total number of guests available to the revenue center during this meal/time period on this day. |
Forecast Available | Displays the number of guests forecasted to be available during this meal/time period on this day. |
Forecast Variance | Displays the difference between the forecasted available guests and actual available guests. |
Forecast Covers vs. Available | Displays the percentage of forecasted covers compared to the forecasted available guest market. |
Actual Covers vs. Available | Displays the percentage of actual covers captured by the revenue center compared to actual available guests. |
Related topics:
- Forecasting Reports: