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.
How much time is spent on the mundane, mechanical aspects of your forecasting process? How much delay is added by these processes, leaving less time to actually develop a considered forecast?
These tasks add 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? Not one of them actually helps to make a better forecast! They are a prerequisite to allow you to start forecasting.
A significant part of the forecasting process can be consumed by these activities. Prophecy helps you reallocate time from non-value-added to value added activities.
Prophecy automates all the mundane aspects associated with sales forecasting. When your forecasters start Prophecy up they are already taken care of, so your forecasters can immediately start the 'thinking' part of the forecasting process, the one which adds the real value.
Here is a diagram showing all the 'value added' aspects of the sales forecasting process that Prophecy will help you achieve:
Prophecy empowers the managers 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 offers 3 modes of statistical forecasting - batch, wizard and on-demand, but the power to accept, reject or change a statistical forecast needs to reside with the business manager.
In addition, remember that the business forecasting process
is typically cyclical. The majority of forecasting time is spent reviewing
the remaining existing forecasts in the forecast horizon in the light of
last period's sales and new known future events, rather than creating a
brand new forecast.
In addition, 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