Skills & Competencies for Forecast Analyst III

Forecast Analyst III job profile

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JOB SUMMARY for Forecast Analyst III

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

JOB RESPONSIBILITIES for Forecast Analyst III

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 III SALARY RANGE

BASE 50%
$96,105
TOTAL 50%
$100,896
Job Level
P03
Job Code
MM18000223
Education/Degree
Bachelor's Degree
Reports To
Supervisor or Manager

Forecast Analyst III 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 III skill and competencie below to view definitions.
JOB FAMILY COMPETENCIES CORE COMPETENCIES
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11 general skills or competencies (Job family competencies) for Forecast Analyst III

1 Job Family Competencies – Business Intelligence
Proficiency Level -3
Skill definition-Evaluating business data, translating it to actionable insights, and using it to make better-informed decisions.
Level 1 Behaviors
(General Familiarity)
Compiles a list of the basic processes to navigate business intelligence dashboards and tools.
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Level 2 Behaviors
(Light Experience)
Assists in developing enterprise business intelligence applications to collect large amounts of data.
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Level 3 Behaviors
(Moderate Experience)
Implements complex analysis solutions to support the business intelligence environment.
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Level 4 Behaviors
(Extensive Experience)
Aligns the business capability requirements to the business intelligence and data strategy roadmaps.
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Level 5 Behaviors
(Mastery)
Champions the adoption of advanced business intelligence tools to promote the data dissemination process.
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2 Job Family Competencies – Data Analytics
Proficiency Level -3
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)
Describes the fundamentals of data and business analytics.
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Level 2 Behaviors
(Light Experience)
Applies broad knowledge and best practices to provide data analytics services to clients.
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Level 3 Behaviors
(Moderate Experience)
Communicates and interprets data to provide clarity to non-technical and technical audiences.
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Level 4 Behaviors
(Extensive Experience)
Collaborates with cross-functional teams to produce data analytics key indicators and metrics.
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Level 5 Behaviors
(Mastery)
Designs the conceptual, logical, and physical data models to support the analytic data requirements.
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3 Forecast Analyst III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Forecast Analyst III
Proficiency Level - 4
5 Competency for - Forecast Analyst III
Proficiency Level - 5

10 soft skills or competencies (core competencies) for Forecast Analyst III

1 Core Competencies – Predictive Analytics
Proficiency Level -3
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 the basics of predictive model techniques.
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Level 2 Behaviors
(Light Experience)
Applies appropriate statistical tools to test and validate all assumptions.
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Level 3 Behaviors
(Moderate Experience)
Contributes to the development of multiple models to predict future behavioral outcomes.
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Level 4 Behaviors
(Extensive Experience)
Develops data analysis strategy and predictive models for various functions or measurements.
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Level 5 Behaviors
(Mastery)
Adopts advanced techniques for evaluating the quality and relevance of data used in predictive models.
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2 Core Competencies – Key Performance Indicators (KPI)
Proficiency Level -3
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)
Cites examples of KPIs applied at individual, team, and organizational levels.
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Level 2 Behaviors
(Light Experience)
Assists in KPI analysis and patterns discovery to support management in decision making.
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Level 3 Behaviors
(Moderate Experience)
Collaborates with related stakeholders to decide cross-functional KPIs.
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Level 4 Behaviors
(Extensive Experience)
Analyses the pros and cons of specific KPI metrics to ascertain the best course of action.
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Level 5 Behaviors
(Mastery)
Builds and updates innovative KPI management tools to optimize KPI selection and implementation processes.
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3 Forecast Analyst III - Skill and Competency
Proficiency Level - 3
4 Skill and Competency - Forecast Analyst III
Proficiency Level - 4
5 Competency for - Forecast Analyst III
Proficiency Level - 5

Summary of Forecast Analyst III skills and competencies

There are 0 hard skills for Forecast Analyst III.
11 general skills for Forecast Analyst III, Business Intelligence, Data Analytics, Bill of Materials, etc.
10 soft skills for Forecast Analyst III, Predictive Analytics, Key Performance Indicators (KPI), Financial Acumen, etc.
While the list totals 21 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 III, he or she needs to be skilled in Predictive Analytics, be skilled in Key Performance Indicators (KPI), and be proficient in Financial Acumen.

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