# Estimates in Wave

An Estimate is a calculation Wave makes based on the best available information for a given initiative. The Estimate value of the initiative is based on Planned (P), Actual (A), and Forecast (F) values, as those values are known. For more details on these impact series and what they represent, click here.

Below is the logic that Wave typically uses to calculate the Estimate value. *Note some configurations of Wave do not include Estimates or the logic to calculate Estimate may vary slightly.*

- If the Actual value is available, Estimate = Actual value
- If there is no Actual value, Estimate = Forecast value
- If there are no Actual or Forecast values, Estimate = Planned value
- If there are no Actual, Forecast or Planned values, Estimate = blank

The following example shows how the Estimate varies based on available values.

Several reports in Wave are designed to provide analytics based on Estimates:

- Impact over time
- Distribution of impacts
- Evolution of impacts
- Bubble chart

When running one of these reports, simply check the box next to Estimate in the report dropdown menu.