The Dashboard in Forecast+ is designed to give you a comprehensive visual representation of the key financial metrics and forecasts for your business.
Navigating the Dashboard
At the top-right corner of the dashboard, you'll find a Scenario Selector and a Time Frame Selector. These tools offer a powerful and easy way to customize the data you're viewing based on specific scenarios or time frames.
Scenario Selector: This tool allows you to choose and compare different forecasting scenarios. Depending on the chart, you may be able to view multiple scenarios simultaneously. However, some charts are designed to show only one scenario at a time for clarity. If multiple scenarios are selected for these standalone charts, the data will default to the base case scenario.
Time Frame Selector: With this tool, you can adjust the period you wish to examine, offering flexibility in reviewing past performance or future forecasts.
Together, these selectors offer a dynamic way to view and compare data, making it easier for you to analyze trends, patterns, and discrepancies based on different conditions and periods.
The Dashboard includes the following components:
1. Revenue:
The Revenue graph depicts both your actual revenues and those predicted through your various forecast scenarios. This view gives you a direct look at your company's revenue performance and how closely it aligns with your projections. This graph enables you to understand if your business is meeting its revenue targets and take corrective measures if necessary.
2. Profit:
This graph displays the profit your business has made and anticipates making, based on your forecast scenarios. It helps assess the profitability of your business over time, enabling you to quickly see if your business is maintaining its profit margins or if adjustments need to be made to your strategy.
3. Bank:
This section provides a visual representation of your company's cash position, both current (actuals) and predicted (forecasts). Maintaining a healthy cash balance is crucial for the operational stability of your business, and this graph helps monitor it effectively.
4. Runway:
The Runway graph showcases how long your business can continue running with its current cash balance, giving a clear indication of your business's financial health and sustainability.
5. Expense Breakdown (based on tags):
The Expense Breakdown chart provides a detailed view of where your business is spending its money, categorized by tags. This helps identify significant cost drivers and potential areas for cost-saving.
6. Net Profit Margin:
This graph displays the net profit margin for your business, a crucial indicator of your business's profitability. It provides insights into how effectively your business is converting revenue into profit.
7. Burn Rate:
The Burn Rate chart provides information on how quickly your business is spending its cash over a certain period. It is especially crucial for startups, as it helps determine how long the company can keep operating with its existing cash reserves.
8. Fixed vs. Variance (based on tags):
This graph contrasts your fixed costs against variable costs, categorized by tags. Understanding the ratio of fixed to variable costs helps manage expenditures more efficiently and make strategic decisions.
9. Customer Acquisition Cost:
The Customer Acquisition Cost graph displays the cost associated with acquiring a new customer. It's essential for assessing the cost-effectiveness of your marketing campaigns and overall business strategy.
Calculation:
Forecasted CAC: This is the average cost from the last three months of acquiring new customers. It helps us predict future costs.
Formula: Average of last 3 months of CAC
Forecasted New Customers: We calculate this by dividing the budgeted marketing spend by the forecasted CAC. It helps us estimate the number of new customers we might gain.
Formula: Forecasted Marketing Spend / Forecasted CAC
Actual CAC: This is the actual cost of acquiring new customers. It's calculated by dividing the actual money spent on marketing by the actual number of new customers.
Formula: Actual Marketing Spend / Actual New Customer
10. Budget Variance:
The Budget Variance chart activates once a budget is built and corresponding actuals are loaded. It compares the budgeted amount for each line item against the actual amount, helping identify areas where the company is overspending or underspending.
11. Forecast Variance:
The Forecast Variance chart activates once at least one forecast is built and then actuals are loaded. It compares your forecasted figures against actuals, providing insights into the accuracy of your forecasts and informing future forecast adjustments.
Each element in the Dashboard plays a crucial role in financial decision-making and strategic planning. With this comprehensive view, you can ensure you're making informed decisions to guide your business toward its financial goals.