What is statistical forecast in SAP SRD-SCM-DP - SCM-Demand Planning?

SAP Term: statistical forecast

• Component: SRD-SCM-DP

• Component Name: SCM-Demand Planning

• Description: An estimate of future demand produced by the system by applying statistical forecasting methods to historical data.

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• Key Concepts: 
  Statistical forecast is a method of forecasting demand for a product or service based on past sales data. It uses statistical techniques such as regression analysis and time series analysis to predict future demand. This method is used in SAP's Demand Planning component of the Supply Chain Management (SCM) module. 
  
  How to use it: 
  In SAP's Demand Planning component, statistical forecast can be used to create a forecast for a product or service based on past sales data. The user can select the type of statistical technique they want to use, such as regression analysis or time series analysis. The user can also specify the parameters for the forecast, such as the time period and the number of periods to be forecasted. 
  
  Tips & Tricks: 
  When using statistical forecast in SAP's Demand Planning component, it is important to ensure that the data used for the forecast is accurate and up-to-date. It is also important to consider any external factors that may affect the demand for the product or service being forecasted. 
  
  Related Information: 
  For more information on using statistical forecast in SAP's Demand Planning component, please refer to the official SAP documentation at https://help.sap.com/viewer/product/SRD-SCM-DP/SCM-Demand_Planning/en-US.