The AI Optimization with forecasting capabilities empowers users to predict revenue and volume/quantity forecasts across various pricing scenarios, facilitating data-driven decisions through the innovative Forecast Accelerator.
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UPGRADE VALUE: Forecast Accelerator capability in Caribou Lou 14 enhances strategic planning and decision-making by providing accurate, AI-driven forecasts at both product and customer levels, supporting versatile use cases, and enabling better resource allocation and optimized pricing strategies. |
Revenue Forecasting with Caribou Lou 14
This feature, available as the Forecast Accelerator, leverages artificial intelligence to provide accurate revenue and quantity forecasts based on real transaction data. By simulating and planning strategies, analyzing trends, and making informed decisions, you can achieve more precise outcomes.
Key Features of Revenue Forecasting
The Revenue Forecasting tool allows users to forecast revenue or quantity for the coming months, not only at the product level but also at the customer level. This detailed breakdown enables more accurate decision-making and helps businesses understand underlying trends. The tool is particularly useful for various use cases, including estimating customer rebates, assessing the impact of price changes, comparing expected revenue for contracts, and monitoring discrepancies in customer spending patterns.
Unlocking Potential Use Cases
Rebates: The tool helps estimate the allocation of customer rebates more accurately, providing a clear overview of how much will need to be paid by the end of the year.
Price Setting: Businesses can use the revenue forecast instead of past transactions to assess the impact of price changes.
Agreements: The tool allows for the comparison of expected revenue for contracts to last year’s results.
Quotes: It helps estimate expected revenue for specific customers or products during the quoting process.
Actionable Insights: By monitoring discrepancies such as anticipated changes in customer spending patterns, businesses can proactively address issues and take actions throughout the year.
Setting the Parameters for Forecasting
To configure the forecast, users need to select the metric they want to base the forecast on and define the relevant customers.
Forecasting can be done at an aggregated level, with the ability to drill down for detailed insights.
Additional sources such as bank holidays, promotional planning, or future price changes can be included to refine the forecast.
Leveraging Data for Better Accuracy
Users can select product and customer attributes that are valuable for understanding trends and review the most important factors impacting outputs.
Benchmarking results against previous periods and adjusting parameters based on metrics ensures that the forecast aligns with business objectives. The forecast can be exported in a data source with the same structure as transactions, making it easier to use in other processes.
The accelerator allows you to explore the forecast with the latest data per product, customer, and period (daily, weekly, monthly, or yearly). This comprehensive view helps in making accurate decisions and planning effectively.