Unleashing the possibilities of consumption revenue forecasting

By Riz Ebrahim

While many organizations forecast revenue based on accounts or opportunities, there is a rising trend toward consumption-based forecasting. 

Consumption revenue forecasting predicts revenue based on actual demand, using pay-as-you-go or run-rate models. Organizations that aim to recognize revenue based on the usage of their products or services often prefer consumption revenue forecasting over other approaches to projecting revenue. 

This is especially true as more organizations operate on a pay-as-you-go revenue model based on actual usage. Organizations can earn revenue continuously as customers use more of their product, not just at the initial purchase.

At Egen, we help organizations across industries unleash the power of cloud, data, AI and platforms to create possibilities, including building enhanced analytics and consumption revenue forecasting. 

When a leading data intelligence company needed to optimize its analytics and consumption revenue forecasting framework for making agile and informed business decisions, it asked the experts at Egen for guidance. Its existing analytics infrastructure was plagued by performance bottlenecks and intricate dependencies among data sources and services. This complexity led to delayed reporting and analytics, hindering its ability to generate actionable insights and respond promptly to market demands.

Egen optimized the data infrastructure to reduce complexity and eliminate performance bottlenecks, ensuring data flows smoothly and efficiently for consumption revenue forecasting. We then led a comprehensive redesign of the existing dashboards to improve logic, design, and usability. By consolidating multiple views and dashboards into single-pane pages, it is now easy to gain insights on sales and marketing funnels, consumption revenue review, and product usage  health. 

We incorporated advanced data visualization tools and techniques to make the dashboards more intuitive and insightful, dramatically reducing reporting time and enabling stakeholders to quickly derive critical insights for making data-driven decisions. The dashboards can be easily adjusted to meet evolving business needs, making reporting more transparent and effective for the long term. 

To set up the data intelligence company for ongoing success with its consumption revenue forecasting, Egen promoted a data-driven culture and ensured people across the company have access to the data and insights they need to be effective and efficient in their work. Now, the data intelligence company is positioned to continually enhance its analytics and consumption revenue forecasting capabilities, driving more agile and informed decision-making processes to help keep it on the leading edge.

Are you ready to transform your consumption revenue forecasting capabilities? Connect with us today to learn more about how we can unleash the possibilities of consumption revenue forecasting for your organization.