Drive a More Complete and Efficient Forecast

A trusted and actionable sales forecast is comprised of many different data inputs, each providing unique value to the forecast. Many organizations model a portion of their future business based on patterns exhibited in previous shipments.

In these cases, a statistical (algorithmic) forecast is used and becomes a valuable part of a complete business forecast. Furthermore, manually forecasting items better suited to statistical forecasting is a poor use of a sales rep’s valuable time and results in lower forecast accuracy.

Right90 Statistical Forecasting™

With Right90 Statistical Forecasting powered by ForecastX, reps can focus their time forecasting high impact items and while letting the statistical forecast take care of the more suitable lower impact items. Furthermore, sales operations can generate statistical forecasts for items that are best fit for algorithmic forecasting (e.g. a high volume consistently ordered part that typically trends to shipments from the previous month). Ultimately, the entire organization achieves a more complete and accurate forecast with increased sales productivity.

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.

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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