Forecasting – The process
A technique for predicting future trends using historical data
The 5 “Elements” of Forecast
Segmenting subscribers by multiple metrics including expiry date, region, tenure, payment method, acquisition channel & acquisition offer.
Applying individual renewal rates to each group of subscribers to allow for an accurate, smooth forecast. A typical model has over 1,000 unique renewal rates all populated by the Foresight team.
Acquisition and current subscription price is entered simply into the forecast model. A fully automated input makes it easy to use.
Volume of acquisitions (new subscribers) for current year and future years, according to budget set out. This can be as simple or complex as the client requires.
Multiple scenarios can be run simultaneously through the model. For example, price rises, retention rates, offer mix etc.
Using our forecast models, we can model price rise assumptions to understand the impact different price rise scenarios have on revenue and subs volume.
- Gives you the ability to make informed business decisions and develop data-driven strategies
- Allows for more accurate budgeting
- Helps discover the ‘Why, Where, When and How’ of your sales activities
- Opportunity for growth and increased income
- Lowers liabilities and markdowns
- Provides incentives for new product development
“I have worked with Foresight for over 10 years in various companies. The knowledge and actionable insight they provide has proved invaluable every time.”
Karen Sharp – Head of Retention, Bauer
Forecasting Clients include…
Foresight Data Consultancy
We devise a range of viable strategies, analyse and predict outcomesGet in Touch