How Chatbots Are Reimagining Customer Support

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When you can make accurate forecasts, you'll be able to meet customer needs, make informed decisions about the next best course of action, and allocate resources appropriately.

And, another important point to understand is that forecasting reports will not give you exact numbers. Uncertainty will always be there. The only good thing about forecasting is that it will give you a rough idea of ​​what will happen in the future and help you make strategic plans accordingly.

Now, what are the essential ingredients to make better forecasts?

Factors to consider when forecastingIf you want to excel at forecasting, you need to understand some important points like:

Record your sales process: You should record all the actions and steps required to close the deal. For example, meeting with the client, sending follow-up requests, etc. This will help you understand the most common techniques for closing the deal.
Set Quotas: Setting monthly or annual quotas will make europe cell phone number list planning easier. When you set quotas for individuals, you will be able to identify gaps in your team’s performance and provide necessary feedback. You will also be able to predict future sales based on the current set goals and make necessary changes to your sales tactics or techniques.
Apply CRM to Manage Sales Process: Use CRM application to understand and manage your sales process, this will help predict sales targets accurately.
If you want to simplify your forecasting approach, you should take the help of AI, which will help you automate all your forecasting activities. Let us understand how AI intervention can increase your forecasting accuracy.

AI to improve sales forecasting
Some common reasons for inaccurate forecasting are lack of high-quality data, errors in the process, etc. Errors are more likely to occur when there is human intervention. On the other hand, with AI:

You will be able to generate and process tons of error-free data. It will help you generate valuable insights and make informed decisions about your business. A Mckinsey report states that adopting AI-based forecasting can reduce errors by 20 to 50 percent.
You can deploy chatbots to collect information easily by giving different commands.