Hello All,
Would anyone mind sharing what their current process for forecasting annual contributions is? In Plans there is a Probability % field that seems like it could potentially be incorporated into our current forecasting process, and we were curious if anyone else is already doing this or what else others are using the Probability field for, if not forecasting. We are considering creating a forecast model for ticketing as well and are in the process of updating our current contribution forecasting methods for greater accuracy. I know predictive models for forecasting will be available in V16 Analytics, but I am not yet sure when we will be upgrading to V16.
Thank You,
Ariel Ehrman
Hi Ariel,
We build out a pipeline of people, lets say 1,000 people for a gala, and put in ask amounts for everybody. Then we estimate a probability for each of those asks. Then we multiply asks x Probability and you get an overall aggregate, thats your 'forecasted' amount.
so in this case we have a total of $175k in asks, and a forecasted revenue of $75k
Thank you, Brian!