Bass Forecasting Tutorial - Creating a Template

Creating a Bass Forecasting Template

The Bass Forecasting model allows you to use your own data directly or to use a pre-formatted template.

Because the Bass Forecasting model requires a specific data format, users with their own data should review the pre-formatted template to become familiar with the appropriate structure.

The Templates feature can be found on the Enginius Dashboard in the left column.

After selecting the Bass Forecasting template from the dropdown, you will be presented with the following dialog box to set up the template according to your data needs:

The options are as follows:

Past data

• Past data available: If you have past data available, checking this box will allow you to enter the number of periods for which you have past data about adoption rates. 

Advanced options

• Generalized Bass model template: Click the checkbox if you want to set up the Generalized Bass model, which includes two decision variables, pricing and advertising, that determine the speed of diffusion. If the Advanced Bass option is not checked, the template will exclude the pricing and advertising decision variables.
• Variable market potential: Check this box if the market potential will change over the forecasting periods.
• Number of periods to forecast: The number of periods to forecast will be available if either the Advanced Bass model template or the Variable market potential options are selected. Enter the number of periods you want to forecast. Notice that this option simply creates placeholders for anticipated market potential and/or price and advertising levels; it does not generate forecasts.

Note: the check box at the bottom of the dialog box will cause the template to populate with sample (random) data that will allow you to run Bass forecasting immediately so you can preview the output produced.

After selecting the desired model options, click  to generate the data collection template.