What is forecasting model variant in SAP SRD-SCM-DP - SCM-Demand Planning?

SAP Term: forecasting model variant

• Component: SRD-SCM-DP

• Component Name: SCM-Demand Planning

• Description: An instance of a forecasting model including the values for its associated parameters such as sigmas, alphas, and betas. The values for these parameters are set by the user.

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• Key Concepts: 
  A forecasting model variant is a set of parameters used to define the forecasting model in SAP Demand Planning. It is used to determine the forecast accuracy and to adjust the forecast according to the specific needs of the business. The forecasting model variant includes parameters such as the type of forecasting model, the number of periods to be forecasted, and the weighting factors for each period. 
  
  How to use it: 
  In SAP Demand Planning, a forecasting model variant can be created by selecting the “Forecasting Model Variant” option from the menu. Once selected, a list of available forecasting models will be displayed. The user can then select the desired model and enter the parameters for that model. Once all parameters have been entered, the forecasting model variant can be saved and used for future forecasts. 
  
  Tips & Tricks: 
  When creating a forecasting model variant, it is important to consider the specific needs of the business. For example, if a business requires more accurate forecasts, then a more complex forecasting model should be chosen. Additionally, it is important to consider how often the forecasts will need to be updated and how much data will need to be collected in order to generate an accurate forecast. 
  
  Related Information: 
  For more information on forecasting model variants in SAP Demand Planning, please refer to SAP Help documentation or contact your local SAP representative.