Setting Targets
Setting business targets is an essential aspect of strategy and execution. With ActiveDEMAND you can create and manage your key metrics. You can create time based goals and import forecast data to improve your marketing outcomes.
A Target is an account level attribute that is used in reporting to communicate performance compared to a specific number. For example, your account may have a revenue target defined that could be added to a revenue report. Each Target can have associated projections that allow for customization of how the goal will be achieved in time.
To create a new Target, click the 'New Target' button.
- Target Value: The business objective you are looking to achieve
- Start Date: When you will start measuring performance
- End Date: When you expect to achieve your target
Projections:
If your execution is not going to be linear, you can set projections as to what you believe your performance will be - Date: When you will achieve the associated value
- Value: the value of the metric you expect to achieve on the date
Generate Targets
Available only for Senior Living Mode
To simplify Target creation, you can use the Target Calculator to create targets based on previous data.
Step 1
- Target period name: All Targets created will have the target period name prepended to the target
- Move ins: This is the final target from which historical ratios will be calculated
- Start date: The beginning of the target date range for all targets created
- End date: The date for which all targets will be accomplished by
Step 2
- Ratio Calculation Type: This is the type of calculation that will be used to generate the ratios. The options are [Calculated Values, Actual Journeys].
- Calculated Values: this will use the numbers generated in the "Historical Totals" to calculate the associated ratio. In the example above, it took 550 Leads to generate 217 Move Ins.
- Actual Journeys: This will use the actual historical paths taken by the contacts in the database. Thus, for example, it will only use the exact number out of the 560 that moved in.
- Historical date range: The date range used to pull in the historical data
- Historical Ratios: The Ratios calculated using the historical calculation
- Historical Totals: The actual events recorded in date range.
Step 3
- Attribute: The names of the targets to be generated. These names will be pre-pended with the Period Name defined above
- Target: The value that will be used to generate the associated target
- Select: Those attributes that are selected will have targets generated.
Reporting
Time Grouping Table Reports
For reports that are grouped by time, you can display projections for specific items. To add targets/forecasts to a specific row click the Assign Target button:
Select the garget for that row:
This will add columns to your report using the configured target time range and forecast data
The projections will use linear interpolation to calculate the projected numbers for that row. You can associate a different target for each row.
Comments
Please sign in to leave a comment.