Identify the indicators that predict sales
Whether you’re launching a new product or optimizing an existing one, you need a clear understanding of which factors are the most important for driving sales.
Hanover’s Sales Forecasting solution helps you do that. Using advanced data analysis, Hanover identifies internal and external sales drivers and uncovers critical predictors of conversions. As a result, you can more accurately and efficiently forecast revenue, allocate territory, maximize opportunities for conversion, and, ultimately, increase sales.
Source: 2019 Trends in Market Analysis
Optimize the factors that lead to higher sales
Determine the key external variables that affect sales performance.
Identify the trends that lead to peaks and valleys in sales.
Counteract periods of decline by identifying the biggest factors affecting sales.
How it Works: Sales Forecasting
Hanover’s data scientists employ a wide range of advanced data analysis to predict drivers of sales conversion, including linear or logistic regression and decision-tree or ARIMA modeling.
Evaluate Internal Data
Hanover analyzes CRM data including sales metrics and available firmographic and geographic indicators.
Incorporate External Indicators:
Our team incorporates macroeconomic data via a market indicator analysis. Additional data such as industry expenditures and lagging indicators may also be included in the model to create a holistic view.
Uncover Drivers of Sales and Predict Performance
Hanover models internal and external data to capture movements in historical trends and predict future sales. Forecasts are segmented into various models which analyze the impact of various indicators. The models are then interpreted to uncover the most casual factors contributing to and driving sales performance.
Hanover’s Research-Based Insight Drives New Product Development
“Hanover’s predictions and estimates were right in line with the actual price tradeoff and acquisition rates we experienced during product launch. Our leadership team regularly says that this is the most heavily and thoroughly researched NPD launch that they’ve ever been part of.”
—Kevin Manzel, Director of Innovation, The Teaching Company
Make decisions with confidence, not guesswork
Hanover Research provides high quality, custom research and analytics through a cost-effective model that helps clients in the corporate, education, and healthcare sectors make informed decisions, identify and seize opportunities, and heighten their effectiveness.
Ongoing research agenda adapts with your organization’s needs
200+ analysts with advanced research expertise
Annual, fixed-fee model delivers shared costs and benefits
Exclusive account and research teams ensure strategic partnership