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If you don’t have the capability and tools to forecast your organization and team’s sales performance with confidence, that presents a significant strategic risk. Many large businesses use a combination of simplistic regression modeling and guesswork: it’s not surprising that they sometimes get it badly wrong, leaving gaping holes in profits that shake stakeholder confidence, hindering growth and sparking negative reactions that destabilize operational plans and workforces.
For large and complex organizations, the problem is tying together very large amounts of financial, operational and market data and being able to model what would happen in a variety of potential scenarios with different variables adjusted. It’s knowing how these variables affect each other and setting them in the current context. It’s including a wide range of subtle influencing factors that may alter potential and performance – a level of insight that normally only comes from extensive – and expensive – data science consultancy.
At Lanshore, we’ve developed leading-edge forecasting capability through complex, reinforced algorithms rather than traditional regression modeling. Using the latest predictive analytics technologies and tools from leading vendors, powered by RPA and ML, we help our clients transform the accuracy of their forecasts.