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March 03, 2015
The Future of Forecasting: A Forecast With A Mind of Its Own
How great would it be to have an analyst pressure test every commit before it hits your desk?
Every sales team has ‘em. Happy ears. Sandbaggers. I don’t know which is worse. Well, happy ears is worse. But it’s close.
But that’s not the mind I’m talking about. I’m talking about machine learning, predictive analytics. You know — data science. It’s the future and it is coming to a forecast near you.
Don’t get me wrong. Your job’s not being outsourced to robots any time soon. But wouldn’t it be nice to get real-time reporting from a data analyst who never sleeps? Especially one with a Ph.D who majored in statistics and minored in neural networks?
Predictive analytics provides you with leading indicator insight into your forecast. You see which deals are at risk, which ones are actually going to close, and which ones were never meant to be.
Think about how this changes forecast calls. If you have seven big deals in Commit, but two are no more likely to close than a coin flip, where do you spend your time? If you know exactly why a deal is at risk, you’re tee'd up to help coach the rep and lock in success this quarter.
Remember when I said this was the future? That’s not quite right. It’s now. But you have to turn it on. Then you’ll see results in just six weeks. Kidding! That’s what everyone else says. With Clari, it’s 48 hours. And that’s only because we like to check our work. Yes, it’s true, just say the word and next Monday's forecasting call will be your best one ever. Who doesn’t want that?
BTW, this is my fourth post in my The Future of Forecasting series. Want to learn more? Download the eBook!