OPTIMIZING A BUSINESS PERFORMANCE FORECAST
Optimizing a business performance forecast includes: projecting, based on a projection algorithm, a performance forecast for a period of time, the projection algorithm including inputs having a weight and the projection algorithm associated with a confidence score; capturing results of actual performance for the period of time; comparing the results to the performance forecast, including determining whether the difference between the results and the forecast is less than a threshold; if the difference is less than the threshold, increasing the confidence score associated with the projection algorithm; if the difference is not less than the threshold: iteratively, until a difference between the results and a new forecast is less than the threshold: modifying the projection algorithm; projecting a new forecast based on the modified projection algorithm; and determining whether the difference between the results of actual performance and the new forecast is less than the predetermined threshold.
1 - 7 . (canceled)
8 . An apparatus for optimizing a business performance forecast, the apparatus comprising a computer processor, a computer memory operatively coupled to the computer processor, the computer memory having disposed within it computer program instructions that, when executed by the computer processor, cause the apparatus to carry out the steps of:
projecting, by a projection module based on a projection algorithm, a performance forecast for a period of time, wherein the projection algorithm comprises a plurality of inputs with each input having a weight and the projection algorithm is associated with a confidence score;
capturing, by the projection module, results of actual performance for the period of time;
comparing, by the projection module, the results of actual performance to the performance forecast, including determining whether the difference between the results of actual performance and the performance forecast is less than a predetermined threshold;
if the difference between the results and the performance forecast is less than the predetermined threshold, increasing, by the projection module, the confidence score associated with the projection algorithm;
if the difference between the results and the performance forecast is not less than the predetermined threshold:
iteratively, until a difference between the results of actual performance and a new forecast is less than the predetermined threshold:
modifying, by the projection module, the projection algorithm;
projecting, by the projection module, a new forecast based on the modified projection algorithm; and
determining, by the projection module, whether the difference between the results of actual performance and the new forecast is less than the predetermined threshold.
9 . The apparatus of claim 8 further comprising computer program instructions that, when executed by the computer processor, cause the apparatus to carry out the step of increasing the confidence score for the modified algorithm after the difference between the results of actual performance and a new forecast is less than the predetermined threshold.
10 . The apparatus of claim 8 further comprising computer program instructions that, when executed by the computer processor, cause the apparatus to carry out the step of establishing, by a system administrator, the projection algorithm including seeding the projection algorithm with the plurality of inputs and weight for each input.
11 . The apparatus of claim 8 wherein modifying, by the projection module, the projection algorithm further comprises modifying one or more weights of one or more of the plurality of inputs.
12 . The apparatus of claim 8 wherein modifying the projection algorithm further comprises identifying one or more additional inputs and assigning a weight to each of the one or more additional inputs.
13 . The apparatus of claim 12 , wherein identifying one or more additional inputs further comprises identifying, from a set of actual performance results, correlation between data in data sources and results.
14 . The apparatus of claim 8 wherein each of the plurality of inputs comprises data from a data source and the data source may be any one of:
a social media service;
direct customer feedback;
indirect customer feedback; and
web-based publications.
15 . A computer program product for optimizing a business performance forecast, the computer program product disposed upon a computer readable medium, the computer program product comprising computer program instructions that, when executed, cause a computer to carry out the steps of:
projecting, by a projection module based on a projection algorithm, a performance forecast for a period of time, wherein the projection algorithm comprises a plurality of inputs with each input having a weight and the projection algorithm is associated with a confidence score;
capturing, by the projection module, results of actual performance for the period of time;
comparing, by the projection module, the results of actual performance to the performance forecast, including determining whether the difference between the results of actual performance and the performance forecast is less than a predetermined threshold;
if the difference between the results and the performance forecast is less than the predetermined threshold, increasing, by the projection module, the confidence score associated with the projection algorithm;
if the difference between the results and the performance forecast is not less than the predetermined threshold:
iteratively, until a difference between the results of actual performance and a new forecast is less than the predetermined threshold:
modifying, by the projection module, the projection algorithm;
projecting, by the projection module, a new forecast based on the modified projection algorithm; and
determining, by the projection module, whether the difference between the results of actual performance and the new forecast is less than the predetermined threshold.
16 . The computer program product of claim 15 further comprising computer program instructions that, when executed, cause a computer to carry out the step of increasing the confidence score for the modified algorithm after the difference between the results of actual performance and a new forecast is less than the predetermined threshold.
17 . The computer program product of claim 15 further comprising computer program instructions that, when executed, cause a computer to carry out the step of establishing, by a system administrator, the projection algorithm including seeding the projection algorithm with the plurality of inputs and weight for each input.
18 . The computer program product of claim 15 wherein modifying, by the projection module, the projection algorithm further comprises modifying one or more weights of one or more of the plurality of inputs.
19 . The computer program product of claim 15 wherein modifying the projection algorithm further comprises identifying one or more additional inputs and assigning a weight to each of the one or more additional inputs.
20 . The computer program product of claim 15 wherein each of the plurality of inputs comprises data from a data source and the data source may be any one of:
a social media service;
direct customer feedback;
indirect customer feedback; and
web-based publications.