Week 7 Case Study: Forecasting
HOSP 4055 Operations Analysis Week 7: Forecasting S24 You are forecasting future wedding events for an event venue. The following is information regarding historical wedding demand for Mid Week, Fridays, and Saturdays. The nu Use the information given to prepare a weighted forcast for the forecast period. All contextual information has been built into the weights provided. Mid-Week Friday Saturday Historical Data Last 12 months Last 9 months Last 6 months Last 3 months 183 198 215 233 483 528 578 633 933 1023 1123 1233 Weights: Last 12 months Last 9 months Last 6 months Last 3 months Total 25% 25% 25% 25% 100% 15% 15% 40% 30% 100% 4% 21% 25% 50% 100% Weighted forecast Last 12 months Last 9 months Last 6 months Last 3 months Total nd Saturdays. The numbers you see are the average demand in covers for the periods given. HOSP 4055 Operations Analysis Week 7: Forecasting S24 You are forecasting covers for a restaurant for Sunday Brunch. The following is information regarding historical Brunch demand on Sundays. The numbers you see are the aver Contextual information follows. Use the contextual information to determine the weights and to prepare the fo Use Excel formulas in all cases. Covers Historical Data Last 12 months Last 9 months Last 6 months Last 3 months Weights: Last 12 months Last 9 months Last 6 months Last 3 months Total Weighted forecast Last 12 months Last 9 months Last 6 months Last 3 months Total Context 368 403 498 533 Brunch was introduced 1 year ago. Cover counts have steadily in Weather was unusually nice and demand was much higher than ago. Cover counts have steadily increased as it became more well known in the market. HOSP 4055 Operations Analysis Week 7: Forecasting S24 You are forecasting future occupancy for a limited service hotel. The following informtion is provided for the past year Use the contextual information to modify the weights Monday Tuesday Wednesday Thursday Friday Saturday Historical Data Last 12 months Last 9 months Last 6 months Last 3 months 307 322 337 349 317 333 349 362 337 355 373 391 317 332 349 362 307 322 338 350 247 256 265 317 Weights: Last 12 months Last 9 months Last 6 months Last 3 months Total 0% 0% 0% 0% 0% 0% Weighted forecast Last 12 months Last 9 months Last 6 months Last 3 months Total Sunday 247 256 265 317 The market is recovering after a low demand year. Recovery is accelerating Recovery continues to accelerating A new piece of weekend business was picked up and is expected to continue Enter your weights here based on the information above. 0% Remember, your weights must equal 100% pected to continue
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