Drive a More Complete and Accurate Sales Forecast

A key best practice in driving a more complete, accurate sales forecast is to drive increased effort on forecasting the items (accounts, products, opportunities) that yield the highest return while leveraging automatically generated forecasts for the other items.

For example, sales reps can focus their forecast efforts on the top 20% of their accounts which bring in 80% of their quota while leveraging a statistically-generated forecast for the rest. Similarly, product managers can focus their efforts on the high margin products while letting a statistical algorithm take care of the “other” products.

At the same time, you can leverage a system-generated forecast as a reference (or starting point).

Right90 Statistical Forecasting

Right90 Statistical Forecasting™ is a part of the Right90 suite of applications. It is the perfect addition to the Right90 Sales Forecast Capture™ application, providing another method to capture the forecast and increase overall forecast performance. With Right90 Statistical Forecasting, companies achieve higher forecast accuracy and completeness, while increasing the return on the time invested by sales and marketing in their forecasting efforts.

Key Benefits:
For Sales Reps	Increased sales productivity, more complete forecast Focus on high impact items when forecasting and let statistical forecasting take care of recurring, low impact items. Leverage statistical forecast as a reference plan to better inform the forecast for upcoming periods
For Sales Operations, Demand Planners, Financial Analysts and Management	Increased forecast accuracy and confidence More confidence in the numbers because of increased forecast completeness and accuracy Removes the guesswork of algorithmic forecasting by automatically applying the best algorithm for given data.

Right90 Statistical Forecasting screen

Key Features

A statistical forecast provides a reference for users to gauge their current forecast, or a suggestion for users who need a starting point. A statistical forecast can also be used as the final forecast for specific parts of the business. Right90 Statistical Forecasting provides these capabilities through the following features:

Statistical forecast engine

Powered by the Award winning ForecastX statistical engine by John Galt, the Right90 Statistical Forecasting application reviews all input data and determines the best algorithm of 25 different statistical methods (Box-Jenkins, Holt Winters, etc.) available to generate the best forecast. It adjusts for seasonality or other factors and generates the best algorithmic time series forecast for the given data.

Statistical reference plan

Sales operations managers can create a new plan in Right90, by picking specific data to input into the statistical engine and generating a forecast plan. The engine is flexible enough to select any set of time series data and generate data into the future any number of periods.

Suggested statistical forecast

The system can provide a suggested statistical forecast, so that sales reps can copy and edit statistical forecast or enter their own forecast.

Statistical forecast for specific items

Sales operations managers can utilize a statistical forecast for a specific sub-set of items that are best fit for algorithmic forecasting( for example, a high volume consistently ordered part that typically trends to shipments from the previous month) to enhance the sales forecast.

For more information:
Download Statistical Forecasting datasheet
Right90 Solutions Overview
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