Overheard: Word of the Day

Nov 13 2013   2:39PM GMT

Word of the Day: rolling forecast

Margaret Rouse Margaret Rouse Profile: Margaret Rouse

Overheard

“It’s no secret that the BYOA trend creates new security challenges. Internal applications typically rely on firewalls, but best practices for cloud-based services usually rely on secure passwords and encryption technologies.”Chris Moyer

Today’s WhatIs.com Word of the Day is rolling forecast, an add/drop process for predicting the future over a set period of time. Rolling forecasts are often used in long-term weather predictions, project management, supply chain management and financial planning. If, for example, an organization needs to anticipate operating expenses a year in advance, the rolling forecast’s set period of time would be 12 months. After the first month had passed, that month would be dropped from the beginning of the forecast and another month would be added to the end of the forecast. Because a rolling forecast window requires routine revisions, it is sometimes referred to as a continuous forecast or an iterative forecast. Continued…

Related Terms

BPF
predictive analytics
demand planning
fiscal year

Quiz Yourself

A rolling forecast budget uses a FIFO approach for time. What does FIFO stand for?
a. first in/first out
b. financial information/forecast ongoing
Answer

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