Sales Forecasting
CRM Matrix — Sales forecasting analysis in Graphical Charts
Bsuite CRM’s sales forecasting has a very powerful inbuilt AI tool that plots your transactional data in graphical format. Presentation of data in graphical format helps decision-makers to boost the overall sales performance of the company. The tool is a good example of a CRM tool, and one of the things that made the tool so useful is that it allowed the team to create visualizations of data that were accessible by anyone. The tool is a good example of a CRM tool, and one of the things that made the tool so useful is that it allowed the team to create visualizations of data that were accessible to users across all teams.
In this article, we will take an in-depth look at how you can use the tools provided with BSuite CRM for creating interactive dashboards using data. We are going to focus on three main areas: Automating customer engagement and reporting, visualizing customer behavior and engagement, and forecasting.
Our Sales Forecast Features:
Automating Customer Engagement and Reporting provides a “Customer Engagement” report presentation of data in graphical format that helps decision-makers to boost the overall sales performance of the company. The tool allows you to track customer engagement with the following features:
1) Customer engagement metrics: the number of customers who bought an item, bought a product, or took a survey in a certain time frame
2) Key metrics (key performance indicators): the percentage of sales generated by each customer (i.e. an average sales number)
3) Measurement options: data visualization, graphs
Here is the full info-graphic, with an explanation of how it was created:
Creating a simple data visualization tool for users. A lot of input from the users is taken on what they liked about the visualization, what aspects of it they didn’t like, the tools they preferred, and what things they would change. The visualization is simple and user-friendly, but it is also very powerful.
Data landscape based on Employee, Product, Stage, and Source of lead.
Parametric Graphical Charts:
1) Due Month wise deal share:
Now, we look at the graph which shows the deal value stack in four months from the current month. This gives an idea of how much deal value we are dealing with for the next four months to come.
2) Stage wise Deal share:
In order to win a deal, a lot of stages need to be cleared. Let us first look at the stages we have in our system:
1) Open
2) In Negotiation
3) Proposal Presented
4) Identify Decision Makers
5) Contract Signed
6) Deal Won Closed
7) Deal Lost
The deal passes through these stages one by one. The chart on the right presents the scheduled deal share for the forecast month with respect to the stages (first five in the list) of the deal. We look at the due date and the current status/stage of the deal, in order to get an idea about the progress of the work and the possible bottlenecks. From the graph, we can see that the total deal value under the stage “Identify Decision Makers” is highest in May’21, June’21, and August’21. While for the due month July’21 the “Contract Signed” stage has the highest deal value. We can easily get the inference that there is some problem in the “Identify Decision Makers”
3) Source wise Deal share:
We have several sources defined in our system (of course more can be added), like Business Card, E-mail, Website, Management, Personal, Newspaper, etc. If we have a look at the graph on the left, we can easily get the fact that the deal value for the source Website is maximum for the Jun’21 forecast month, which can also be interpreted as the source having great traffic in terms of the deal value it offers.
4) Employee wise Deal share:
It is always a good practice to reward an employee for his/her exceptional work and commitment. So, in order to do that, we need to determine the employee’s contribution to the company. For that, we group the employee by deal value and note the employees who bring in the majority of the deal. In the graph, we can see the contribution of various employees to the company.
5) Promising products/Potentially valuable products:
Many times we come across people, who are quick to judge a person about his/her talent and the potential they have in them. Similarly, if we want to know which product in our arsenal is showing great potential, we look at the deal values which are in progress for a given product for a particular due month. From the graph on the left, we can easily see that the product “Business Advisory” has a much higher deal value in holding in Jul’21, which shows it has great potential for generating revenue if the deals are won. We might also want to focus more on this product because of the apparent demand and gain the trust of the customers in this surge.
