Happy Friday! Most of the week has passed, and the weekend is almost here. Are you headed for some big sales number or a bit of downtime?
Friday is all about letting your team check in on performance measured against the start of the week forecast. Hopefully you have smashed it, but if not, it’s good to know early if you have underperformed.
And that’s one of the main reasons why companies use predictive analytics – to detect early warning signs of issues. Sometimes it is hard to extrapolate a set of weekly numbers into something more meaningful for your business against which action can be taken. And that’s what this card does for you. It takes the guesswork away, feeding in the very latest sales figures and uses them to update your end-of-year results, showing you the difference.
The metrics in this card are designed to help your team quickly understand the week’s performance. This includes sales revenue verses this time last year, plus a revisiting of the short and long range forecast made on Monday.
Metrics in this card
|Sales so far this week||The total number of sales so far this week, Monday to Thursday. This excludes any Sales made so far on Friday.|
|Year on Year Sales||The year-on-year % difference between this week last year (Monday to Thursday) and this week.|
|End of Year Forecast Updated||The updated long range end-of-year forecast. This is updated with the week’s sales figures since Monday. The change to the long-range forecast since Monday is also shown.|
|Weeks Revenue Forecast||The Revenue Forecast for this week as predicted at the start of the week.|
|Weeks Revenue Forecast (Updated)||The Revenue Forecast for this week as predicted using the latest sales figures.|
|Forecast Weeks Ranking||The ranking out of 20 this week would achieve if you meet the new updated week’s Sales Forecast.|
Charts in this card
This chart revisits your short-range forecast generated on Monday and compares it to the actual results, Monday to Thursday. Days you have been stronger than forecast are green, those that are weaker are red. The Forecast for Friday, Saturday and Sunday are updated with the new forecast.
This chart revisits the new 12 month sales look back and 12 month look forward using the updated long-range forecast. It’s a great way to see how your business is expected to perform given your recent relative sales figures – fantastic for board reporting and resolving any issues early.