It’s hard to believe that three years has passed since we introduced Sales Forecasting, a premium feature for our Professional and Enterprise customers. Since then we’ve been working hard to improve the accuracy of Forecasts and remove the subjectivity from the forecasting process. Today, our Big Data team is proud to introduce two revolutionary Sales Forecasting features: Intelligent Close Date and Intelligent Win Likelihood. These intelligent forecasting features aim to help you and your team create objective data-driven forecasts.
There’s no question that Sales Forecasting brings new insights into your business’ future. Now, Base uses intelligence and your past history to more accurately predict close dates and win likelihoods. This added perception gives your reps and managers just the edge they need to objectively predict win likelihood and estimated close dates.
Predict Close Dates More Accurately
Intelligent Close Date predicts when a deal is likely to close based on two things: your rep’s won deals in the past and their sales cycle. By studying past performance, Base is able to offer a new layer of intelligence and perspective when it comes to estimating one’s close date. Predictions are shown using the insights bulb icon, which will be seen on the deal card just to the right of the Estimated Close Date. A grey bulb suggests our prediction is close to what you have set for win likelihood. Hover over the insight bulb to view the Base prediction. When the insight bulb is red, this mean’s the Estimated Close Date is pretty different from what is set currently in Base. If you see this, it’s a signal that something might not be right, and it’s a good idea to check over the deal.
We can’t do all your forecasting (yet). Keep in mind that we’ll only show insights when we have enough data to make a confident prediction. So if you don’t see an insight bulb on every deal, don’t worry. Once Base has enough sales history to work with, the insights will begin to appear.
Adding Intelligence to Win Likelihoods
When it comes to creating accurate forecasts, win likelihoods go hand in hand with estimated close dates. We’ve applied this same logic to the Intelligent Win Likelihood, a highly perceptive development in Sales Forecasting. Base will take a look at your past deal performance and use that data to deliver intelligent win likelihoods. As with the close dates, you will see the Intelligent Win Likelihood if Base has enough sales data to work with. When you see the Base intelligence bulb on the deal card, all you have to do is hover over it and you’ll read a prediction that is backed by data and science.
Independently, these are great features that will make life easier when trying to estimate if a deal is going to close by the end of the month. When used together, data driven estimated close dates and win likelihoods can have a significant impact on increasing the accuracy of your sales forecasts. When you see the insight bulb on your deal cards, be sure to pay attention. Our goal is to make your sales process smarter with forecasts that matter and benefit your business.
We hope you love these new features as much as we do, and would love to know what you think! Leave us a comment below to share your thoughts.
Both of these will make you have more accurate forecasts.