Finance08 July, 2020

2 Min Demo: Predictive Analytics for Sales Forecasting

In this video, we'll take a look at how CCH Tagetik's Analytic Information Hub (AIH) can be used to collect operational level sales details, leverage predictive analytics and forecast sales.
2 Min Demo - Predictive Analytics for Sales Forecasting
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Transcript

CCH Tagetik’s Analytic Information Hub — or AIH — allows users to ingest and store any type of operational-level details available.

In this example, we'll show you how we use the AIH to collect operational sales details, leverage predictive analytics and forecast sales using those simulations within the system.

Let's take a look. In this example, you'll find all of your opportunity data pulled from sales force, Marketo and unstructured web traffic data that was normalized and mapped to opportunities in CCH Tagetik.

We also have additional calculated fields as a part of the transformation step of this ETL — or Extract, Transform and Load.

Thousands of rows of operational data are used to derive a sales forecast as well as run a random forest algorithm in R to predict the opportunity close date. This is a central area to view all details sourced from various sources systems related to your historical opportunities and pipeline.

In this data entry template, you'll find a form where we can add new marketing campaigns associated to the entities and product families.

You can fill out attributes for these campaigns, including start date, duration and cost. Within this sales pipeline example, these campaigns are going to be used to evaluate the likelihood of closing opportunities as well as trade-in the predictive engine to find a correlation between the marketing campaign involving specific product families and the likelihood of closing those closing opportunities that involve those products.

Over time, this will really help improve the reliability of our closing numbers.

And finally, in this interactive report that I have in Excel — because, of course, users can work on the web or in Excel with CCH Tagetik —end users have the ability to choose the forecast they want to go with by individual product within each product family.

For each product within our software product family, I can select any forecast, watch the forecast for that product, and the graph of all products sales update-on-the-fly.

With CCH Tagetik, we can ingest information from various sales and marketing systems, align them to opportunities, create and track campaign progress, and help more accurately predict your closed percentages, closed dates and expected revenues.

This is just an example of how CCH Tagetik's Analytic Information Hub can be leveraged to facilitate your sales planning and forecasting.
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