Definition · forecasting
Reforecast
Reforecast is the practice of updating a forecast mid-period as new actuals and assumptions become available. For reforecast, the useful boundary is the driver, assumption, source data, owner, time period, scenario logic, and decision the model is meant to support.
Also known as re-forecast, forecast update, in-year forecast
Why it matters
Understanding reforecast matters because planning only improves decisions when assumptions, drivers, owners, and time periods are explicit enough to revisit when actuals arrive. Pluvo reforecasts on live actuals and flags what changed since the last version, so a mid-cycle update takes minutes, not a full rebuild.
In practice
Planning example
Teams use reforecast when a forecast, budget, or scenario needs an assumption that can be revisited. The finance team should know the driver, source data, owner, and period before using it in a model.
Pluvo example
Pluvo reforecasts on live actuals and flags what changed since the last version, so a mid-cycle update takes minutes, not a full rebuild.
In practice, teams should define reforecast with a clear source, owner, time period, and decision before they use it in reporting, planning, or operating reviews.
Understanding reforecast matters because planning only improves decisions when assumptions, drivers, owners, and time periods are explicit enough to revisit when actuals arrive. Pluvo reforecasts on live actuals and flags what changed since the last version, so a mid-cycle update takes minutes, not a full rebuild.
A strong workflow for reforecast separates the definition from the action: first agree what the term means, then decide how it is measured, when it changes, and who is accountable for the next step.
Pluvo reforecasts on live actuals and flags what changed since the last version, so a mid-cycle update takes minutes, not a full rebuild.
FAQ
What is a reforecast?
Reforecast is the practice of updating a forecast mid-period as new actuals and assumptions become available. For reforecast, the useful boundary is the driver, assumption, source data, owner, time period, scenario logic, and decision the model is meant to support.
How often should you reforecast?
Use reforecast when the decision depends on updating a forecast mid-period as new actuals and assumptions become available. Before relying on it, confirm the source system, accounting treatment, time period, and owner so the term is applied consistently.