Skills & Competencies for Forecast Analyst I

Forecast Analyst I job profile

Book a Demo and Receive a Sample Job Profile

JOB SUMMARY for Forecast Analyst I

Analyzes inventory levels, production speed, and product demand to determine the amount of finished product that will be produced.

JOB RESPONSIBILITIES for Forecast Analyst I

Determines the best metrics to use to provide the most accurate representation of the forecast. Works with other departments within the organization to determine optimal inventory levels.

Forecast Analyst I SALARY RANGE

BASE 50%
$66,710
TOTAL 50%
$67,795
Job Level
P01
Job Code
MM18000222
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Forecast Analyst I Skills and Competencies List

Proficiency Levels and Behavioural Indicators
Salary.com identifies five increasing levels of proficiency for each skill/competency. Some jobs require only a relatively low level of proficiency in each skill/competency, while other jobs will require a more advanced level of proficiency in the same skill/competency. These levels rate the degree of proficiency (skill level, expertise) we expect the incumbent to perform in the given skill/competency for the given job. Note that we intentionally do not associate timeframes or years of experience in performing the skill/competency because that can be misleading. Proficiency levels identify what the incumbent knows and can do rather than how long they have been doing it. Also, note that the proficiency levels are cumulative, e.g., a level 4 proficiency implies the ability to perform all the behaviors at the lower levels.
Check each Forecast Analyst I skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
BOOK A DEMO

10 general skills or competencies (Job family competencies) for Forecast Analyst I

1 Job Family Competencies – Business Intelligence
Proficiency Level -2
Skill definition-Evaluating business data, translating it to actionable insights, and using it to make better-informed decisions.
Level 1 Behaviors
(General Familiarity)
Describes the basic terminologies used in business intelligence and business analytics processes.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in preparing insights for business performance by using business intelligence tools.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Implements the integration of proprietary business intelligence applications within the department.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Directs the development of a business intelligence platform to report end-user data mining.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Creates business intelligence reviews and strategies to interpret short-term and long-range forecasts.
See 4 More Skill Behaviors
2 Job Family Competencies – Data Analytics
Proficiency Level -2
Skill definition-Applying techniques and processes in examining and evaluating raw data to derive conclusions to support business decision-making.
Level 1 Behaviors
(General Familiarity)
Discusses best practices and concepts in data analytics.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Collects data from sources to provide data analysis and insights.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Makes recommendations based on findings from data analytics to report to potential clients.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Communicates data analytics results to initiate insights to stakeholders and our organization.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Develops new Data Analytics methodologies and procedures to support business in decision making.
See 4 More Skill Behaviors
3 Forecast Analyst I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Forecast Analyst I
Proficiency Level - 4
5 Competency for - Forecast Analyst I
Proficiency Level - 5

9 soft skills or competencies (core competencies) for Forecast Analyst I

1 Core Competencies – Predictive Analytics
Proficiency Level -2
Skill definition-Gathering, analyzing, and predicting patterns and structures of historical data and trends to make strategic decisions for better future outcomes.
Level 1 Behaviors
(General Familiarity)
Describes various predictive model types, including decision trees, regression, and neural networks.
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Assists in creating and validating predictive models.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Demonstrates a proactive mindset in analyzing the probability of historical data for future trends.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Directs predictive techniques to increase organizational success and decrease operational failures.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions adoption of new predictive analytics tools to optimize key decisions for our business.
See 4 More Skill Behaviors
2 Core Competencies – Key Performance Indicators (KPI)
Proficiency Level -2
Skill definition-Knowledge of and ability to apply a set of quantifiable measurements to determine how effectively an individual, team or organization is achieving a business objective.
Level 1 Behaviors
(General Familiarity)
Contrasts KPI with other performance management tools, such as Balanced Score Card (BSC) and Objectives and Key Results (OKR).
See 4 More Skill Behaviors
Level 2 Behaviors
(Light Experience)
Compiles and updates KPI data to show impact on productivity.
See 4 More Skill Behaviors
Level 3 Behaviors
(Moderate Experience)
Communicates KPI-related initiatives such as what, why, and how to ensure transparency.
See 4 More Skill Behaviors
Level 4 Behaviors
(Extensive Experience)
Consults on using KPI for business review and forecasting.
See 4 More Skill Behaviors
Level 5 Behaviors
(Mastery)
Champions the adoption of KPI-based management to promote high-performance culture.
See 4 More Skill Behaviors
3 Forecast Analyst I - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Forecast Analyst I
Proficiency Level - 4
5 Competency for - Forecast Analyst I
Proficiency Level - 5

Summary of Forecast Analyst I skills and competencies

There are 0 hard skills for Forecast Analyst I.
10 general skills for Forecast Analyst I, Business Intelligence, Data Analytics, Bill of Materials, etc.
9 soft skills for Forecast Analyst I, Predictive Analytics, Key Performance Indicators (KPI), Financial Acumen, etc.
While the list totals 19 distinct skills, it's important to note that not all are required to be mastered to the same degree. Some skills may only need a basic understanding, whereas others demand a higher level of expertise.
For instance, as a Forecast Analyst I, he or she needs to be proficient in Predictive Analytics, be proficient in Key Performance Indicators (KPI), and be proficient in Financial Acumen.

It's Easy to Get Started

Get the precision you need to assess, hire, and develop top talent with skills and competencies – see how with a personalized demo.