What factors do you use to decide on your business strategy? Is it market outlook, previous sales trends, order history or present operations? How do you determine what your future profits goals will be?
Most companies rely on certain business metrics to create forecasts regarding a range of factors including customer demand, operational growth, and future expenditures. Using these forecasts can allow for your company to develop an operational plan to use as your roadmap to manage every aspect of your business in the coming months and years.
However, dozens of factors can change previous forecasts. Customer demand can increase or plummet in a heartbeat, as it can change production schedules. Sudden operational changes can also impact finances, as this issue causes your accounting department to audit books and re-evaluate available revenue in the coming years. Even slow-paying clients that you invoice can create unforeseen issues that were not taken into account when developing previous forecast results.
Analytics Solutions, like Adaptive Insights, provide rolling forecasts that are more adaptable to your business operations and your fluctuating market industry. This interactive cloud-based platform allows you to set aside the cumbersome spreadsheets and provides more scalable solutions with real-time data evaluations. You can select the business drivers that affect your specific operations to provide more detailed forecasting resources. With your chosen sales metrics, you can perform “what-if” scenarios that could appear and impact your sales performance and operational management.
With Analytics Solutions, you can better anticipate changes to your sales, leads and opportunities, as you can create accurate reports for your management and employees to use to help them establish realistic sales quotas. Access interactive dashboards that can track trends, and then change your forecasts to reflect real-time data so you can better manage your sales operations and your budget.
Every business wants a way to engage in more comprehensive sales performance that is adaptable as forecasting trends change. With Analytics Solutions, you can perform detailed analysis of sales metrics for more accurate, rolling forecast reporting to have a clearer insight on how to manage your company.