Online application provider NetSuite Inc. has unwrapped NetSuite Advanced Forecasting, a forecasting solution that enables users to triangulate projections using a trio of key performance indicators.
The new tool uses a "calculated forecast" that bases calculations on a sales representative's actual opportunities, estimates and quotes; and a "mood ring" forecast that lets sales reps submit what they predict they will sell, without tying the forecast to specific opportunities. The mood ring forecast applies to each management level, allowing managers to override forecasts as entered by the rep. It also uses actual sales within the forecast.
All three projections appear in a single dashboard view titled the "Sales Management Portlet." NetSuite said that the portlet delivers a calculated, "best guess" override on actual projections that can present a summary view or be expanded to show details for individual reps.
The company also added new key performance indicators to its dashboard, including opportunities won and lost; pipeline and forecast by status report snapshots; and weekly snapshots of forecast history by rep and by manager.
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