If you want to develop a successful business, you need to be able to predict the future. Well, sort of.
At the very least, you need to be able to “estimate” the future. There’s no need to get out the crystal ball and tarot cards, just remove that purple turban and read on.
The tools you need to predict the future are all readily available. We’re talking about sales forecasting, which thousands of companies around the world use every day with the help of high-performance business management software.
What's business planning?
Perhaps the term “forecast” first brings to mind the weather. The sales forecast is the weather forecast for your business. While a weather agency uses data to determine future conditions, commercial forecasters use historical data to make informed estimates about the direction of future trends.
Companies don’t reinvent the wheel every day. Whether consciously or not, every decision taken, every budget allocated and every customer sought is based on reasoning and experience. Ideally, emotional factors are not taken into account, only the objective data required for informed reasoning.
Bien sûr, il se peut que les prévisions ne soient pas toujours exactes mais cela reste la meilleure chance de ne pas se tromper. And it can make all the difference to your competitors!
Why make forecasts?
No wind is favourable to those who do not know where to go.
To be successful, you need to stay one step ahead of your sector, and be able to anticipate every action. It’s the only way to stay ahead of your competitors.
3 reasons to convince you:
It helps you plan for the future
Chances are, you don’t think of your business as a hobby. And chances are, you’ve invested your money and energy in it. This is a long-term project. Forecasts help you plan for the future, both in the short and long term. Furious offers you decision-making dashboards that anticipate flows, risks and trends.
Depending on the size and age of your company, there are several possible approaches to forecasting:
- the qualitative approach: your company is still in its infancy, and you lack historical data and perspective.
- the quantitative approach: when your services or products have been around for a while, and based on your history of losses and successes, you can recognize promising patterns and trends.
- causal modeling is the most advanced approach. It allows us to identify causal links between different data. Typically, a tool like Furious aggregates data from all your business activities: sales, HR, projects, finance, and so on. And AI does the rest: analyzing and modeling the potential results of your decisions and actions.
Helping you think about your budget
Managing a company means being able to manage its overall budget. Since wet fingers aren’t an option, and funds aren’t unlimited, it’s obvious that good business management starts with a clear, factual view of expenses and income.
By identifying profitability and thanks to its forecasts, Furious helps you identify the best areas for expenditure: the launch of a new offer? Recruiting new profiles? Increased advertising budget?
You’ll have everything you need to decide and act with complete peace of mind.
Anticipate changes in your market
Every company depends on the fluctuations of its market. Sometimes, changes take us completely by surprise (for example, the devastating crash of 2008 or the coronavirus crisis), and other times, it’s possible to anticipate them. Forecasting can help you anticipate market movements as a whole, allowing you to be active rather than reactive.
You can then adjust your business objectives in line with anticipated changes in the market, adjusting your stock or resources if necessary.
What is the synergy between steering, management and effective business management?
Steering, managing and running a company are three fundamental pillars that work together to ensure the success and longevity of any organization.
Steering refers to the ability to forecast, anticipate and make informed decisions to steer the company towards its objectives. It’s a proactive approach that requires constant analysis of data and indicators to adjust the company’s trajectory.
On the other hand, management involves directing and coordinating the company’s human and material resources to achieve its objectives. It encompasses the planning, organization, direction and control of activities within the company.
Effective company management is based on a combination of these two aspects. The data collected through steering is used to inform the management process, while management is responsible for implementing the decisions taken through steering.
In other words, steering provides the information needed to make informed decisions, management implements these decisions, and together they enable effective management of the company.
How does the traditional piloting method differ from the modern, technological approach?
The traditional steering method is characterized by a more static and less reactive approach. It often relies on historical data and predefined models to produce forecasts.
In contrast, the modern, technological approach to piloting is based on the use of advanced technologies such as artificial intelligence, real-time data analysis and automation. It enables us to react more quickly to changes and make decisions more rapidly.
In the traditional method, updates to steering indicators can be sporadic, leading to gaps in decision-making. In contrast, the modern approach enables real-time monitoring of indicators, providing a more accurate picture of the company’s situation.
What’s more, the technology makes it possible to analyze large quantities of data in record time, which is virtually impossible with traditional methods. This opens the door to more in-depth analyses and more accurate forecasts.
How can technology and innovation be integrated into the running of a company to ensure efficient management?
- Adopt modern management tools: use advanced management software incorporating features such as real-time data analysis, predictive modeling and artificial intelligence.
- Automate processes: automating repetitive tasks saves time and reduces errors. For example, automating data collection and analysis means you can obtain information more quickly.
- Investing in training: training employees in new technologies and best practices in steering is essential. This ensures that the whole company is on the same wavelength when it comes to innovation.
- Open up to collaboration: working in partnership with external experts, startups or other innovative companies can bring new perspectives and innovative ideas.
- Be agile: adopt an agile approach to management, which means being able to adapt quickly to changes and new opportunities.
By integrating technology and innovation into business management, you can improve your organization’s efficiency, decision-making and competitiveness.
What business management methods are making the difference today?
Business management has evolved considerably over the years, and today there are a number of methodologies that make all the difference. Modern methodologies include :
- Real-time management: this approach is based on the real-time collection and analysis of company data. It allows maximum reactivity to market changes and rapid decision-making.
- The use of artificial intelligence: artificial intelligence (AI) is increasingly used to analyze massive amounts of data and generate accurate forecasts. AI algorithms can detect hidden trends and help anticipate needs and problems.
- The data-driven approach: data-driven management means making decisions based on objective data rather than intuition. This improves forecast accuracy and reduces errors.
- The collaborative approach: many companies encourage collaboration between different departments to achieve a more holistic view of the business. This promotes a better understanding of challenges and opportunities.
- The use of interactive dashboards: interactive dashboards enable decision-makers to explore data in greater depth and identify key insights.
How can the dashboard become a strategic tool for company management?
When used strategically, the dashboard becomes a powerful tool for company management. Here’s how it can be transformed into a strategic tool:
- Data centralization: the dashboard centralizes and displays all relevant company data. This gives decision-makers a clear overview of the situation.
- KPI tracking: dashboards are designed to track the key performance indicators (KPIs) that are essential for measuring business success. By regularly monitoring KPIs, decision-makers can quickly spot both positive and negative trends.
- Decision-making support: dashboards provide real-time information and detailed reports, facilitating informed decision-making. Decision-makers can react quickly to market changes and emerging opportunities.
- Alignment with strategic objectives: dashboards are designed to reflect the company's strategic objectives. This ensures that all actions and decisions are aligned with the company's long-term vision.
- Internal communication: dashboards can be shared within the company to ensure a common understanding of performance and objectives. This encourages employee collaboration and commitment.
In short, a well-designed dashboard becomes a strategic tool, helping the company to track its progress, make informed decisions and achieve its long-term objectives.
Why should you consider steering indicators to be an essential part of your company's management strategy?
Steering indicators play an essential role in corporate management strategy for several crucial reasons:
- Measuring performance: steering indicators are used to measure the company's financial, operational and commercial performance. They provide objective data on whether the company is achieving its objectives.
- Informed decision-making: steering indicators provide decision-makers with the information they need to make informed decisions. They help identify areas for improvement and opportunities to be seized.
- Anticipating problems: by monitoring control indicators, the company can quickly spot warning signs of potential problems. This allows corrective action to be taken before problems escalate.
- Alignment with objectives: steering indicators are aligned with the company's strategic objectives. They ensure that all actions and resources are directed towards achieving these objectives.
- Internal and external communication: steering indicators provide a solid basis for communication within the company and with external stakeholders. They provide a transparent presentation of the company's results and progress.
How can corporate management training contribute to optimizing managerial skills?
Corporate management training plays a key role in optimizing managerial skills. Here’s how they contribute:
- Better understanding of key performance indicators (KPIs): management training enables managers to gain an in-depth understanding of KPIs and learn how to interpret them. This strengthens their ability to assess company performance.
- Effective communication: managers trained in piloting are able to communicate more effectively with their team and with other departments. They can clearly explain the objectives, expected results and strategies for achieving them. This encourages collaboration within the company.
- Improved responsiveness: the skills acquired during management training enable managers to react more quickly to market changes and new opportunities. They are better prepared to adapt their strategy according to circumstances.
- Process optimization: management training courses focus on operational efficiency and process management. Managers are trained to identify inefficient processes and implement continuous improvements.
- Enhanced leadership: piloting skills strengthen managers' leadership by giving them a clearer vision of the performance of their team and the company as a whole. This helps them to motivate and guide their team towards achieving their objectives.
How do steering tools fit into day-to-day managerial practice?
Steering tools play an essential role in day-to-day management practice. Here’s how they fit into this practice:
- Increased visibility: steering tools give managers real-time visibility of company performance. This means they can track progress, KPIs and targets on a daily basis.
- Performance monitoring: these tools enable you to keep a close eye on your company's performance. This enables managers to quickly identify areas requiring special attention and take immediate corrective action.
- Informed decision-making: thanks to the data collected and presented by management tools, managers are able to make more informed decisions. They can assess the effectiveness of current strategies and adjust their approach if necessary.
- Easier communication: management tools enable crucial information to be shared with teams and stakeholders. The reports generated simplify communication by presenting clear, comprehensible data.
How do you select the most relevant management indicators for your company?
Choosing the most relevant indicators for your company is crucial to effective management. Here’s how it works:
- Define objectives: start by clearly defining your company's objectives. Indicators must be aligned with these objectives.
- Identify key areas: identify the key areas of your business that have the greatest impact on achieving your objectives. This will determine the types of indicators to monitor.
- Be selective: avoid indicator overload. Select a limited number of indicators (ideally 5 to 10) that are most relevant to each key area.
- Measurability: ensure that the chosen indicators can be measured reliably and accurately. Inaccurate data can distort your piloting.
- Adaptability: be ready to adjust your indicators over time as your business and its objectives evolve.
How do management and steering interact and coexist within an organization?
Management and steering are two essential aspects of running an organization. They interact as follows:
- Complementarity: management involves the day-to-day management of the company's activities and resources. This is the implementation of decisions taken within the steering framework.
- Strategic steering: steering focuses on long-term planning, defining strategic objectives and monitoring overall company performance.
- Coordination: management coordinates teams to achieve day-to-day objectives, while steering ensures that these objectives are in line with overall strategy.
- Key indicators: steering uses key performance indicators to assess progress towards objectives, while management monitors day-to-day operations.
How important is the role of the pilot in activity and project management?
The role of the pilot is essential in activity and project management for the following reasons:
- Strategic alignment: the pilot ensures that activities and projects are aligned with the company's overall strategy. This ensures that every action contributes to the achievement of strategic objectives.
- Resource management: the pilot allocates resources optimally, ensuring that the right people are assigned to the right tasks, thus improving efficiency and effectiveness.
- Performance monitoring: the pilot constantly monitors the performance of activities and projects, identifying deviations from objectives and taking corrective action where necessary.
- Adapting to change: as the person in charge of steering activities, the pilot is in a better position to identify changes in the market or the company's environment, and to adjust projects accordingly.
Why is it essential to distinguish between management and steering in a corporate strategy?
It is essential to make a clear distinction between management and steering in a corporate strategy for the following reasons:
- Clarification des rôles : en définissant des rôles distincts pour le management et le pilotage, chaque fonction peut se concentrer sur ce qu'elle fait de mieux, ce qui évite la confusion et les chevauchements.
- Optimizing operations: management focuses on optimizing day-to-day operations, while steering defines long-term strategic direction. This distinction ensures that both aspects are taken into account.
- Strategic decision-making: by distinguishing roles, decision-makers can make clearer, more strategic decisions without being overwhelmed by operational details.
- Enhanced performance: a well-defined approach to management and steering enables the company to improve its overall performance, achieve its strategic objectives and react more agilely to market changes.
Anticipate with Furious
As an entrepreneur, your ability to anticipate is essential to optimize your resources. A powerful, predictive management tool like Furious, gives you an undeniable competitive edge to perform even better.
With our tools for tracking sales pipelines, salespeople, prospecting, conversion rates and pre-sales workloads, you can sell better and more profitably.
Simply analyze your business performance and risks, and secure your company!
Visualize the performance and profitability of your projects: at a glance, Furious shows you resource availability, team schedules, project profitability, individual and divisional productivity, and customer satisfaction.
Our intelligent dashboards give you a clear, real-time view of your sales, margins, purchases, projected profitability and more.
Several dashboards allow you to visualize your KPI’s easily and help you define the actions to be taken. Furious emails you reports on projects where it detects anomalies.
Our anticipation engine suggests the best production mix to optimize your monthly production landing in real time. And our collaborative, conversational planning tools relieve you of 80% of the planning burden.
In short, like our customers, you could gain an average of 7 months’ visibility on your planning and make forecasting your secret weapon!
Contact us for a no-obligation demo that could change your life!
