GoResponse Telephone Answering Service Staff

Extract real value from forecasting

Document in touchpadOrganisations use forecasting all the time. By extracting data from various sources, call centres can estimate future business and how much revenue they might make, among other things. However, it is essential for telephone answering services to use forecasts accurately.

One of the most important things to do when making predictions is to articulate the data so that accuracy aligns with real goals. It is unlikely that an organisation producing forecasts is doing so solely to produce low-error forecasts. In fact, call centres might have goals such as boosting customer services, increasing return on investment, and growing sustainable profit. Therefore, instead of focusing on a forecast’s accuracy, organisations need to focus on how forecasts can help meet real goals.

In a business, this means the focus should be shifted away from trying to attain high accuracy levels for forecasts if business goals can be met with lower rates. For example, executives should concentrate on using the right metrics so forecasting has a real impact. In addition, forecast accuracy could be shifted to better articulate risk.

Meanwhile, it is a good idea to team up planning and insight divisions, with the latter often being able to identify the causes of particular business volumes. This helps to better understand forecasts and use historic data to guide future decision-making.

Overall, call centres need to stop prioritising forecasting simply for accuracy’s sake. Instead, the focus needs to be moved to how forecasting can actually make a positive impact on an organisation’s targets.

award winning