Prophecy will make your forecasters more productive and help them produce better forecasts by allowing them to spend more time on the quality aspects of the sales forecasting process.
The Problem
Reviewing your current sales forecast process, how much time is spent on the mechanical aspects of that process? These are tasks which add absolutely no value to the forecasts, other than putting you in a position to start forecasting.
The following diagram shows some, but by no means all, of the time-wasting mechanical aspects of sales forecasting. What does each element have in common? Simply that not one of them actually helps to make a better forecast. They are just a prerequisite to allow you to start forecasting.
But, crucially, a significant part of the forecasting process can be consumed by these activities. That's one important way that Prophecy can help - by putting your forecasters into a position where they can start applying their expert business knowledge, judgement and interpretation to the data from the moment they launch their Prophecy sales forecasting software client.
The Solution
Prophecy takes care of all the mundane aspects of sales forecasting, many of which are shown in the previous diagram. When your forecasters start Prophecy up they are all taken care of, so your forecasters can start the 'thinking' part of the forecasting process, the one which adds the real value, immediately.
Here is a diagram showing all the 'value added' aspects of the sales forecasting process that Prophecy will help you with:
Real world business forecasting requires consideration of each of these elements, and more. The biggest opportunity you have to improve the quality of the sales forecasts and business plans in your organisation is to empower the people who have an intimate knowledge of the detailed dynamics of how products sell within your customers to develop sales forecasts that they are accountable for and believe in.
In fact, these people are the most important aspect of the sales forecast improvement process. But they need the time and tools to apply their skills, and Prophecy gives them the best possible tool. Prophecy does offer 3 modes of statistical forecasting - batch, wizard and on-demand, but the power to accept or reject a statistical forecast needs to reside with the business manager.
You should also remember that the forecasting process each period starts with last
period's forecast, modified by the latest actual. A statistical forecast algorithm
is unlikely to dramatically improve the quality of its forecasts with just one more
observation added to the history. Therefore the review and update process
comes more from the forecaster's knowledge of changing events and trends.
That's why Prophecy is right for real-world business forecasters - it gives them
the appropriate tools they need in a easy to use, friendly, robust and secure environment.
Speak to an expert now. Call : +44 (0)1494 785574
Data Perceptions
