+1I found the module (machine learning) which enables predictive scoring for Business Opportunities. The product documentation says something, but leaves gaps in helping to understand how actually the predictive score is calculated.
Does anyone have documentation or knowledge on how the predictive score is calculated?
Are there lobbies or ready-made reports which uses the predicive score for forecasting? Does it take into account the BO probability also?
Best answer by Annjse
Hi
The Opportunity Score is an AI feature that predicts the likelihood of successfully closing a business opportunity. The machine learning model calculates this score by analyzing previously won and lost opportunities. It is trained on historical data, and you must train the model on your own data before using this feature.
The model evaluates all closed opportunities and analyzes a predefined set of parameters from both won and lost cases. Based on this information, it estimates how likely a new opportunity is to be won. The following parameters are considered:
Opportunity Type
Market Account
Default Language
Account Country
Estimated Days to Sign
Main Contact
Main Representative
Account
Month
Lines Count
Quantity Sum
Discount
Competitor Count
Estimated Base Value
The Business Opportunity (BO) probability value is not considered in this calculation. The score complements the probability field, as it provides a more objective estimation compared to the user’s subjective probability estimate.
The predicted score is displayed on the Business Opportunity page and in overviews. There are no specific lobbies or ready-made reports available to show the predictive score.
Best regards,
Anna
+11Hi
The Opportunity Score is an AI feature that predicts the likelihood of successfully closing a business opportunity. The machine learning model calculates this score by analyzing previously won and lost opportunities. It is trained on historical data, and you must train the model on your own data before using this feature.
The model evaluates all closed opportunities and analyzes a predefined set of parameters from both won and lost cases. Based on this information, it estimates how likely a new opportunity is to be won. The following parameters are considered:
Opportunity Type
Market Account
Default Language
Account Country
Estimated Days to Sign
Main Contact
Main Representative
Account
Month
Lines Count
Quantity Sum
Discount
Competitor Count
Estimated Base Value
The Business Opportunity (BO) probability value is not considered in this calculation. The score complements the probability field, as it provides a more objective estimation compared to the user’s subjective probability estimate.
The predicted score is displayed on the Business Opportunity page and in overviews. There are no specific lobbies or ready-made reports available to show the predictive score.
Best regards,
Anna
+1Thank you
Regarding “It is trained on historical data, and you must train the model on your own data before using this feature.” Do you mean we cannot take it into use at the same time as we take Business Opportunity into use, but only later when we have enough data in the system? How is the training done?
Br Jens
+11Hi
Yes, since it is using your won and lost opportunities to predict how likely it is that a new business opportunity is won, you need some historical data. The predicted score will be more relevant if you have many opportunities to analyze so therefore it is better if you have used opportunities for some time before you activate this feature.
The training is initiated or scheduled from a page in IFS Cloud and it runs as a background job.
Best regards,
Anna
+1Hi
Yes, since it is using your won and lost opportunities to predict how likely it is that a new business opportunity is won, you need some historical data. The predicted score will be more relevant if you have many opportunities to analyze so therefore it is better if you have used opportunities for some time before you activate this feature.
The training is initiated or scheduled from a page in IFS Cloud and it runs as a background job.
Best regards,
Anna
Thanks again! Great answers
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
