Update: To be clear I am not wanting to use "Annualized" as I believe it is being used wrong in this example. I was wonder in there was another accurate word or term to describe what is going on in the table of data. Ie. YTD. If YTD is the correct term then that will work for me but I was unsure how to describe what was going on here. Something like "Cumulative YTD" or something along those lines.
We have some data that is called "Annualized" and I do not believe that is the correct term but I cannot figure out what it should be called.
Say we get in 10,000 in contracts in the month of January and these contracts will run for say 1 or more years. At this point we are making 10,000 a month for the entire year. Now in February we get $5,000 in contracts so from February on we have 15,000 a month coming in. Now in Mar we get 8,000 in contracts so our new monthly total is 23,000. This goes on month over month and the total is all those months added up. What do we call this.
Numbers represent $1,000 Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec New contracts 10 5 8 7 9 12 6 3 4 4 3 2 Annualized Billable 10 15 23 30 39 51 57 60 64 68 71 73 YTD = $561,000
Our report is calling this "Annualized billable" but my understanding of what Annualized means is basically what that months billing would be for 12 months.
Would the above be considered Annualized or is there another term for this?