In today’s world, the small and medium enterprises (SME) are increasingly driven by data. Instead of stocking piles of data, SMEs can leverage in business growth strategy to make data-driven decisions. Visualization and analysis of key performance indicators such as revenue combined with self-service forecasting allows them to gain deeper insights on different business units across multi-region which immensely adds faster and better decision making.
Majorly, SME’s for sales and revenue forecasting use traditional techniques to predict future decisions. A statistical forecasting combined with a self-service model offers great automation and insights that can significantly improve the forecast accuracy of its business KPIs, particularly when are required to generate multiple data-driven forecasts on a rolling basis. In this scenario, an easy to use dashboard where companies can do instant forecasting which increases efficiency and accuracy of future decisions.
At 1CloudHub, we provide data driven Business Forecasting dashboard powered by Machine learning delivers insights with an added layer of flexibility which helps predicting the future with ease.
Key Features of 1Cloudhub Forecasting Dashboard
Forecast dashboards as a self-service lets you easily access your key business metrics and insights from any device and can be embedded into your applications, portals, and websites. We can integrate and import data from a wide variety of cloud and on-premises data sources. These include SaaS applications such as Salesforce and 3rd party databases such as MySQL, Postgres, and SQL Server; AWS Redshift, Athena, S3, RDS, and Aurora. We can also ingest a variety of file types including Excel, CSV, JSON..
These dashboards provide powerful analytic insights on the data and forecasts through multiple charts for dynamic visualization and auto-narratives. Our automatic ML algorithm on the AWS Cloud allows you to generate accurate forecasts, even for numerous products in a matter of seconds and will account for seasonal patterns and more. We provide a menu-based user interface options in the dashboard.
Using Machine learning powered forecasting automation and powerful user, business key business metrics with point-and-click simplicity on the dashboard. With built-in algorithm designed to handle complex real-world scenarios., our dashboards provide more reliable forecasts than traditional forecasting.
The model also handles automated data processing for missing values and multiple levels of seasonality. On top of everything, the dashboard can be shared securely with the users via web browsers and mobile phones.
The dashboard includes deep insights of the data, charts, and forecasts. SMEs can manually forecast the data as per their requirements by setting the forecast horizon and extract the forecasted data.
Easy Forecast Adjustment and Collaboration
Our data insights and forecasting dashboards can be accessed by number of users at an affordable cost and is highly available. The forecasting dashboard outsmarts other dashboards with the ease of access where users can independently forecast their future projections with different forecast horizons for different product categories within the organization and can obtain meaningful insights. It also empowers users to have a feel of AI-based business intelligence that helps them in predicting and forecasting based on their requirements.
Mobile Dashboard For IOS and Android
We can enable secure forecasting insights from the data from anywhere in an easy to use mobile optimized experience. Data can be explored with drill down options and filters. Stay ahead of the curve via forecasting, get email alerts when unexpected changes happen in the data.
Security and Compliance
The major concern of every business in the recent era is data security. We can share dashboards and insights securely with many users at the same time. Moreover, with mobile availability and built-in redundancy, our forecasting Dashboard has lots of security features including access control, dynamic directory , virtual private cloud (VPC) subnets and backup of data.
Pay As You Go Model
The data visualization and forecasting dashboard offers one of its kinds of pay-per-session model for dashboard consumers to gain deeper business insights and make better decisions. The dashboard readers are charged for a lower price for a month rather than paying a high one-time cost. The feature enables a freely- flowing secure access to interactive forecasting dashboards and email reports without the need for complex self-hosted analytics set up and management.
Example Use Case
Consumer Durables Revenue Forecasting Dashboard
The above video show cases an example of a data driven, forecasting dashboard where a business user accesses an online Sales revenue dashboard for consumer durable products with different product categories. From the dashboard the user can gain deeper insights through visualization of the revenue, data trends and the user can easily perform forecasting of revenues for one or more products for different time horizons in to the future and observe the outcomes from the generated forecasts for the following five products:
- Mobile Phones
- Smart TVs
- Home Appliances
- Smart Phones
- Washing Machines
The example shown in the video is for graphical forecasting, it is also possible to add and customize forecast as a narrative in an insight widget as a part of the dashboard. On the Forecast properties panel that opens at left, we can customize one or more of the following settings:
- Forecast length – This sets the Periods forward to forecast, and Periods backward to look for patterns to base the forecast on.
- Prediction interval – This sets the estimated range for the forecast. Doing this changes how wide the band of possibility is around the predicted line.
- Seasonality – This sets the number of time periods involved in the predictable seasonal pattern of data. The range is 1–180, and the default setting is Automatic.
The Dashboard also allows user to download the forecast data in comma-separated value (CSV) format.
Forecasting Driven Decisions and Organizational Success
Most small and midsize enterprises (SMEs) are aware that their size is their best-selling point. Unlike their larger competitors, they pivot and reposition their products and resources at an hour’s notice rather than taking days to decide. Such speed and agility are competitive advantages when it comes to adapting and delivering new products and services to market. When data-driven Forecast insights are added to this mix, the value of these inherent characteristics intensifies dramatically..
The demo show that a SME can take any informed decisions from the forecasted data of the revenues of different products. The areas of improvement in the sales of the individual product can be obtained by the dynamic forecast dashboard. The essential data forecasting can be performed by an individual who is unaware of data analysis and this forecasting dashboard helps to extract, develop, and deliver information for strategic decision making.
Essentially armed with Forecast driven insights, SME’s ability to respond to customer needs and deliver new products and services becomes even stronger and faster.
Analytic Insights with Forecasting available as a powerful and easy to use dashboard can help SMEs to improve competitive advantage such as:
- Forecast based Intelligence for decision making
- Fresh insights on internal operations.
- Anytime, Anywhere access with real-time reporting
- New insights on several business KPIs of Sales, customers, and the supply chain
- Streamlined business processes and practices
While most SMEs are not data or analytic specialists, 1CloudHub’s business forecasting dashboard will understand and unlock the power of their data. By using this, SMEs can further capitalize on their speed and agility to serve customers better, embrace and improve market disruption, and innovate their way to optimize operations and grow their business.
Get in touch with our consultants today and we will help you craft the right approach.
