Table of Contents: Foresight Best Practices

Haley Vicini

Welcome to Board Foresight Best Practices. Here you will find links to published articles that provide technical guidance and practical approaches for using the Board Foresight platform successfully.

Data Preparation and Management

• Follow a Structured Data Preparation Workflow
• Treat Missing Values Using Business-Aware Methods
• Apply Minimum Data Requirements for Analysis
• Smooth Volatile Indicators Before Modeling
• Validate Data Definitions Before Analysis

Data and Search

• Use Filters, Tags, and Search Functionality While Searching for Data
• Apply Seasonal Adjustment for Clearer Trends

Discover and Workbench

• Avoid Highly Correlated Variables in a Workbench
• Keep Your Workbench Organized
• Set an Appropriate Start Date for Your Workbench
• Ensure Explanatory Indicators Span the Full Analysis Period
• Apply Seasonal Adjustments Consistently Across the Workbench

Predict and Modeling

• Balance Statistical Rigor with Business Relevance in Models
• Check Recent Residuals to Confirm Model Reliability
• Control for Non-Economic Disruptions in Your Model
• Limit the Number of Explanatory Variables to Preserve Interpretability
• Verify Expected Sign of Indicators Before Running Predict

Scenarios

• Use “Mass Apply Values” for Uniform Forecast Scenarios
• Integrate Risk Analysis into Forecast Scenarios
• Test Scenario Sensitivity One Driver at a Time

Model Maintenance and Governance

• Evaluate Model Health Regularly
• Monitor Residual Drift Over Time
• Re-Run Seasonal Profiles After Major Data Restatements

Miscellaneous

• Use the Foresight Help Assistant to Answer Your “How-To” Questions