Our Scenarios tool combines the power of microforecasts with the ability to add adjustments to your baseline forecast, allowing you to build ‘Best case’ and ‘Worst case’ forecasts for use in meetings and for decision making.
Scenarios allow you to layer together different microforecasts (i.e. business events/plans) and overall configurations that can then be used to create iterations on your baseline, allowing you to do ‘Scenario’ analysis and plan for future events with clients or with business stakeholders.
Anything you haven't changed will remain in sync with your main forecast, giving you the ability to regularly come back to your scenarios and use them for making critical business decisions, or to simply visit a best case/worst case alternate possibility. Keeping unchanged areas in sync with your other forecast updates is key to scenarios remaining relevant as time passes and maintaining a ‘living’ forecast.
- You can forecast different outcomes for your business with Scenarios by using your microforecasts in a Scenario to model the impact they may have on specific metrics.
- By utilizing multiple Scenarios you can compare and contrast which combinations of microforecasts and starting periods result in more favorable predicted metric values.
💡Pro Tip: You can choose the main forecast or any other scenario you have already created to set the baseline for a new scenario. This enables you to layer different combinations of scenarios and microforecasts in new scenarios.
Create a Scenario
To create a new scenario:
- Select the ‘Thought Bubble’ icon on the left-side navigation bar
- Click the 'Create Scenario' button on the bottom of the panel that opens
You will then be taken to the Create Scenario menu where you will:
- Define the scenario name
- Set an increase or decrease in each category, if applicable
- Select and apply the relevant microforecasts
Once this is complete you can click the 'Create Scenario' button to complete the process. This scenario can then be applied to the main grid and to the business roadmap throughout Fathom’s forecasting module.
There are two ways to apply scenarios to Fathom Forecasting. The first is to use the 'Cloud' icon in the upper right hand corner of your forecast. Here you can select between scenarios and apply them to view the changes to your financials.
You can also use the scenarios panel on the left hand side to create or select the scenario that you’d like to apply to your forecasting grid and business roadmap. This will update your baseline assumptions, applicable microforecasts and save any changes made to the timing and value rules on the main grid.