Salesforce Sales Cloud gets forcasting feature
The new generation of Sales Cloud Einstein is to improve the entire sales cycle from initiation to completion with the help of artificial intelligence and machine learning. Thus, the new Einstein Forecasting ensures that sales people better understand which factors are important. This enables more precise sales forecasts at every stage of the sales cycle.
The Einstein Opportunity Scoring feature then prioritizes the most promising leads, and Einstein Email Insights automatically identifies the most important emails. This also makes sales faster and more efficient.
The purpose of the Forecasting module is to replace costly spreadsheets for creating sales forecasts, which often lead to inaccurate forecasts and inadequate results. Salesforce estimates that less than 50 percent of forecasts are missed.
The combination of self-optimizing algorithms and key CRM data such as leads, opportunities, and customer information is designed to deliver highly accurate forecasts, making business predictable.
For example, with a quick look at a dashboard, a regional medical device distributor can use Einstein Forecasting to determine if his team is on track to achieve the quarterly goals or if certain financial statements are in danger. The foresight function of Einstein Forecasting allows appropriate measures to be taken in good time to ensure that the goals are achieved.
The CFO of the company, who wants to enter a new region but is unsure whether the company can afford the development costs, can help Einstein Forecasting estimate whether there will be enough budget for this month or quarter.
Also new is Einstein Opportunity Scoring, which aims to shorten sales cycles and make them more precisely plannable. Within the Sales Cloud Lightning console, the deals with the greatest potential can be highlighted and prioritized. For this purpose, criteria such as volume or involvement of the management are available.
Einstein also checks leads to identify potential risks in advance. With Einstein Opportunity Scoring, a salesperson no longer has to sift through the opportunity list and focus instead on the most promising leads.
Using NLP (Natural Language Processing) -based capabilities, Einstein Email Insights can identify the most important emails. The solution then proposes the best measures or answers. This allows incoming mail to be prioritized faster and responded to customer requests faster.
About a year ago, Salesforce launched Einstein AI , announcing a solution that is used in a variety of Salesforce solutions. After expanding several tools with the AI solution, the technology is expected to produce an average of 475 million forecasts a day.
Salesforce Ventures, the investor arm of the cloud CRM vendor, also introduces the new $ 50 million Salesforce Einstein fund. From this fund, Crowdflower, Highspot, and Squirro are funded to develop solutions based on the Salesforce platform.
Einstein Forecasting, Einstein Opportunity Scoring and Einstein Email Insights are currently in the pilot phase and will be available in the first half of 2018. Prices are not fixed yet.