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Evaluating forecasting tools: what the vendor pitch usually leaves out
Research into what actually determines whether a forecasting tool improves accuracy.
Forecasting tool vendors typically demonstrate accuracy improvements using clean, well-labelled historical data. The accuracy an organization actually sees depends heavily on how clean and consistent its own CRM data is — a factor rarely discussed prominently in the sales process for these tools.
Organizations considering a forecasting tool investment get more reliable results auditing their own data quality first, since a sophisticated tool applied to messy underlying data usually underperforms a simple model applied to clean data.
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