PREDICTIVE CONFIDENCE DETERMINATION FOR SALES FORECASTING
A system and method provide for identifying relevant success drivers from previous historical sales data and separating sales data into successful and unsuccessful business segments by generating predictive confidence determinations. After the successful and unsuccessful business segments have been identified, the business segments may be classified into determined confidence categories or levels. Each opportunity in an opportunity pipeline is assigned to a specific business segment and corresponding confidence level. A simulation of the sales forecasting system displays an opportunity pipeline broken done into confidence levels for each of the opportunities.
1 . A method for providing predictive confidence determination for sales forecasts, the method comprising:
identifying business segments correlated to at least one selected influencing attribute;
assigning a confidence level to each of the business segments, wherein the confidence levels are divided by boundary values between each of the confidence levels that are selectably controlled;
mapping each opportunity from opportunity data retrieved from an in-memory database to one of the business segments;
assigning the confidence level of the selected business segment to the corresponding opportunity; and
displaying an opportunity pipeline in a user interface of a user terminal, the opportunity pipeline being separated into the confidence levels for the opportunities.
2 . The method according to claim 1 , further comprising:
selecting at least one influencing attribute based on historical data retrieved from the in-memory database.
3 . The method according to claim 1 , further comprising:
sorting the business segments in descending order based on the assigned confidence level.
4 . The method according to claim 1 , further comprising:
evaluating the business segments to identify a trend.
5 . The method according to claim 4 , further comprising:
extrapolating any identified trends to predict outcomes for a key statistic for the business segments.
6 . The method according to claim 5 , wherein the predicted outcomes are used to assign confidence levels to each of the business segments.
7 . The method according to claim 1 , wherein a number of confidence levels is designated.
8 . The method according to claim 5 , wherein the key statistic is sales revenue.
9 . The method according to claim 6 , wherein business segments having predicted outcomes greater than a first boundary value are determined as having a high confidence level.
10 . The method according to claim 9 , wherein business segments having predicted outcomes lower than a second boundary value are determined as having a low confidence level.
11 . The method according to claim 10 , wherein business segments having predicted outcomes between the first and the second boundary values are determined as having a medium confidence level.
12 . The method according to claim 1 , wherein each opportunity is mapped to one of the business segments as a function of the historical data retrieved from the in-memory database.
13 . A forecasting system for providing predictive confidence determination for sales forecasts, the system comprising:
at least one user terminal displaying a user interface, the sales forecasting system displayed on the user interface;
an in-memory database storing historical data and opportunity data; and
a processor operable to:
identify business segments correlated to at least one selected influencing attribute;
assign a confidence level to each of the business segments, wherein the confidence levels are divided by boundary values between each of the confidence levels that are selectably controlled;
map each opportunity from the opportunity data retrieved to one of the business segments;
assign the confidence level of the selected business segment to the corresponding opportunity; and
display an opportunity pipeline in a user interface of a user terminal, the opportunity pipeline being separated into the confidence levels for the opportunities.
14 . The system according to claim 13 , further comprising:
an advanced business application programming (ABAP) system to access the stored historical and opportunity data from the in-memory database.
15 . The system according to claim 13 , wherein the sales forecasting system is implemented on an integrated business platform.
16 . The system according to claim 13 , wherein the processor sorts the business segments in descending order based on the assigned confidence level.
17 . The system according to claim 13 , wherein the processor evaluates the business segments to identify any trends and extrapolates any identified trends to predict outcomes for a key statistic for the business segments, the predicted outcomes being used to assign confidence levels to each of the business segments,
18 . The system according to claim 13 , wherein business segments having predicted outcomes greater than a first boundary value are determined as having a high confidence level, business segments having predicted outcomes lower than a second boundary value are determined as having a low confidence level, and business segments having predicted outcomes between the first and the second boundary values are determined as having a medium confidence level.
19 . A forecasting system for providing predictive confidence determination for sales forecasts, the system comprising:
at least one user terminal;
an in-memory database storing historical data and opportunity data;
an advanced business application programming (ABAP) system to access the stored historical and opportunity data from the in-memory database;
an application displayed on a user interface of the user terminal, the application configured to:
select at least one influencing attribute based on the historical data retrieved from the in-memory database;
identify business segments correlated to the at least one influencing attribute;
evaluate the business segments to identify a trend;
extrapolate any identified trends to predict outcomes for sales revenue for the business segments;
assign a confidence level to each of the business segments based on the predicted outcomes for sales revenue, wherein the confidence levels are divided by boundary values between each of the confidence levels that are selectably controlled;
sort the business segments in descending order based on the assigned confidence level;
map each opportunity from the opportunity data retrieved to one of the business segments as a function of the historical data retrieved from the in-memory database;
assign the confidence level of the selected business segment to the corresponding opportunity; and
display an opportunity pipeline in a user interface of the user terminal, the opportunity pipeline being separated into the confidence levels for the opportunities.
20 . A method for providing predictive confidence determination for sales forecasts, the method comprising:
selecting at least one influencing attribute based on historical data retrieved from an in-memory database;
identifying business segments correlated to the at least one influencing attribute;
evaluating the business segments to identify a trend;
extrapolating any identified trends to predict outcomes for sales revenue for the business segments;
assigning a confidence level to each of the business segments based on the predicted outcomes for sales revenue, wherein the confidence levels are divided by boundary values between each of the confidence levels that are selectably controlled;
sorting the business segments in descending order based on the assigned confidence level;
mapping each opportunity from the opportunity data retrieved to one of the business segments as a function of the historical data retrieved from the in-memory database;
assigning the confidence level of the selected business segment to the corresponding opportunity; and
displaying an opportunity pipeline in a user interface of the user terminal, the opportunity pipeline being separated into the confidence levels for the opportunities.