Predictive Sales Forecasting
Problem
- Sales forecasting is a common task performed by sales organizations providing accurate forecasts allowing organizations to make informed business decisions
- Companies derive forecasts based on historical sales, current market conditions, and gut instinct – however gut instinct can introduce human bias leading to inaccurate forecasts
Solution
- A data driven predictive forecasting model consumes both historical data to gauge trends and seasonality as well as current pipeline of opportunities to forecast sales for the next 12 months.
- This model runs automatically and presents a monthly forecast while constantly learning on new data that becomes available.
Benefits
- Accurate long term forecasts allow organizations to plan marketing, recruiting and other strategic efforts
- This solution brings together actuals, predictive and judgement forecasts into a single screen so management can compare and analyze differences
- Allows users to also perform “What-If” analysis to determine impact of various actions
