Introduction
Manual forecasting strains FP&A teams. External drivers shift demand in ways that are hard to capture consistently with spreadsheets and judgment alone. Cycles are time-consuming and repetitive, results vary by planner and business unit, and teams often debate a single baseline because adding proper what-ifs would multiply the workload. Our predictive approach brings those drivers into the model and compresses the cycle time to minutes, while keeping controllers firmly in charge of the numbers that go to plan and close.
What it is
Predictive Forecasting in Vena is an element61 add-on that integrates Vena, the FP&A hub many teams use for budgeting, forecasting, and reporting, with Databricks, a secure platform for large-scale data processing and machine learning. It generates versioned forecasts for unit sales and unit prices using machine learning models.
The process starts in Vena, where actuals and driver data are maintained. When new actuals are received in Vena (e.g. from an ERP or data warehouse) and the necessary additions/adjustments to the driver data are made (e.g. you update the predicted inflation for the next 12 months based on a report from the ECB), the forecast can be run with the click of a button. The exact driver set used is customized for each business case, for bike sales, these include e.g. Consumer Confidence Index, Fuel Price, Public Transport Cost Index, …
Vena sends the actuals and updated driver values to Databricks, where, standardized processes prepare the data and execute machine learning models for two scenario types: a Static Forecast, which is a one-shot forecast of the next 36 months using only the latest actuals/current drivers, and a Rolling Forecast, which recursively forecasts the next month for every month with available (predicted) driver inputs.
The resulting predictions are then written back to Vena as versioned scenarios, so they flow straight into your standard templates and the forecast report, where Finance teams can adjust predictions, compare scenarios, and obtain a high-level overview of the results. The end-to-end cycle completes in minutes with minimal workload and remains within the familiar Vena workflow.
The ready-made Vena report turns model outputs into an actionable view with KPIs, trends, and scenario comparisons. Controllers have the option to create adjusted forecast versions, so changes are tracked without overwriting the model results. Scenarios can be compared side-by-side with differences highlighted. Finally, everything is summarized in a concise executive view with KPI cards, graphs, and a table for quick analysis.
The added value
This add-on delivers faster, more consistent, audit-ready forecasting, right within your existing Vena workflow. It combines high forecasting accuracy from machine learning models with controller’s governance so you can re-forecast when it matters, compare scenarios credibly, and move from debate to decision.
- Speed: Minutes-to-forecast end-to-end, on-demand refresh, ahead of close or market events.
- Quality: Models learn real drivers for materially lower error compared to traditional methods.
- Sensitivity analysis: Static baseline and Rolling re-forecast, each with Adjusted copies, with scenario comparisons readily available.
- Finance users are in control: No need to stick with model predictions. Adjusted scenarios allow manual adaptations.
- Immediate visibility: A compact Vena report with KPIs, trends, and scenario comparisons for quick executive readouts.
- Tailored fit: Models are trained on drivers selected for the specific use case.
Conclusion
Finance needs faster forecasts, broader in coverage, and more reliable, without compromising the governance and accountability controllers require. By integrating Vena and Databricks, we bring predictive forecasting into your existing Vena workflows, compress cycle time from days to minutes, and replace a single baseline with a scenario-based, auditable process. The outcome: better forecasts, delivered on your timeline, with finance firmly in control.
If you’d like to learn more, get in touch to schedule a free demo. We will walk you through the workflow, answer questions, and discuss the possibilities for a solution that is tailored to your business.
Read more about the general concepts of Vena:
Specific features of Vena:
- Introducing Vena for Microsoft PowerPoint
- Vena Copilot: Revolutionizing Finance with Agentic AI
- Enhancing Business Efficiency with Vena Solutions' Hybrid and Standalone Templates
Our pre-configured starter kits with Vena:
