Forecasting overview

Last update: April 18, 2024

CREATED FOR:

  • User
NOTE
You must have the Select package or higher in order to use the functionality described in this section. Contact your administrator if you’re unsure which Customer Journey Analytics package you have.

Forecasting includes a statistical prediction for time-series related data based on the historical data that already exists in Customer Journey Analytics. Forecasts can appear in freeform tables and line graph visualizations. Users can control if forecasting is automatically included through their user preferences in the Customer Journey Analytics UI. They can also turn them on and off per column within the column settings. Only the first column added to a table already has forecasting turned on.

Forecasting is available in “Select” and higher Customer Journey Analytics license tiers.

You can leverage forecasting for:

  • Planning: By analyzing trends and predicting future outcomes, you can identify potential opportunities and threats and adjust your strategies accordingly. This can help you to allocate resources more efficiently and effectively.
  • Budgeting: By forecasting future revenue and expenses, you can ensure that teams have adequate funds to cover their costs and invest in growth opportunities.
  • Risk management: By anticipating future events and trends, you can take proactive steps to mitigate risks and minimize potential losses.
  • Resource allocation: By predicting future demand, you can ensure the necessary resources are available to meet customer needs and avoid stock-outs or overstocking.
  • Performance evaluation: By comparing actual results to forecasted results, you can identify areas for improvement and make necessary adjustments.

Customer Journey Analytics