HubSpot Ideas

azalaquett

Update Win Probability Percentages Based On Historical Deal Data

Hi HubSpot Community!

Win Probability % on Deal Stages is currently manually set by the user. It would be valuable to our organization if there was the option to go from Manual to Automated for setting these values -- these % could automatically update based on real deal close data gathered overtime in the HubSpot platform. Of course there would need to be logic in place to ensure a bad quarter, etc. didn't skew overall % for most accurate forecasting, but overall would be helpful for this % to update automatically based on HubSpot Data. 

Thanks for your consideration! If anyone else would see this as valuable feel free to weigh in. 

10 Replies
gelflex-cc
Key Advisor

@azalaquett Great thought. So glad you decided to post here. 

Shak
Member

I feel like this should solve some if not all of your issue here:

 

https://knowledge.hubspot.com/contacts/determine-likelihood-to-close-with-predictive-lead-scoring

 

Let me know your thoughts

gelflex-cc
Key Advisor

@Shak great article. Since the percentage is set by user there is inconsistency. 

Shak
Member

@gelflex-cc The percentage is actually calculated through the HubSpot machine learning module that is based on contact interaction. As it's a contact property @azalaquett would need to then create a workflow to copy the data from the "likelihood to close" field over to a custom field on a deal record. Then run a report using this new custom field as a parameter.

 

Workflow article can be found here: https://blog.hubspot.com/customers/working-around-workflows

azalaquett
Contributor

Thanks @Shak. What I'm referring to is specifically in regards to the Win Probability at each Deal Stage which is then used to calculate Forceasted Revenue. The metrics used to calculate the Predictive "Likelihood to close" value are Firmographic information, web page visits, etc. What I'm saying is hey, we don't have to predict, etc. if there is already real data in the system over time. Use the actual Win Rate data at each Deal Stage overtime and then autoupdate the Win Probabilities over time. Right now they are manually input when a Deal Stage is created and can be edited manually based on the Win Data (which we will do over time for more accurate Forecasting). Does this make sense?

 

That being said, I can see that your solution to copy the Likelihood to Close data over to the Deal record as the next best option - thanks! The limitations are still two-fold:

1. "Likelihood to close" doesn't take into Account historical Win data (at least not according to the Knowledgebase article). 

2. A custom report would need to be made with a Formula field to multiply the Likelihood to Win Percent by the Amount Field in the Deal. 

 

 

MyCaptain
Participant

Valid idea. Having a manual value doesn't make sense at all. 
Take this example: I have two reps, with conversion or close rate of 5% & 10% Respectively. 
Even if the deal value in the pipeline is the same, their result or forecast value should depend on the historical data of the particular rep to give a more accurate & reliable forecasting. 

 

For a new rep, these probability values can be averaged as per the account data. 
This is much needed, else Deal Stage is just a name sake features not useful at all at it's current configuration.  

SR_CHP
Member

Echo the need for this feature!

dennismvelasco
Member

Need this!

Forwrd_AI
Participant

Hi guys, exciting news!

 

We're in the last stretch of developing exactly this – HubSpot AI Deal Forecasting.

 

Say goodbye to playing Deal or No Deal with your sales pipeline, because HubSpot AI Deal Forecasting by Forwrd.ai is almost here.

 

You know the drill.

 

You've got a deal, you slap a percentage on it, and hope for the best. Sometimes you're right on the money, and other times you're about as accurate as a weatherman predicting a heatwave in Antarctica.

 

But fear not, because HubSpot AI Deal Forecasting has got your back!

 

Our AI technology crunches the numbers from your past deals faster than you can say "cha-ching!", providing you with a deal-specific:

  • Percentage win value
  • A closing date.

No more guessing games or relying on blind luck. Our smart tech takes into account all the deal-influencing factors from your historical data to give you more accurate forecasts than your favorite psychic.

 

Plus, with risk signals like:

  • Wrong commit dates (and)
  • Overdue deals

You'll be able to **bleep** potential issues in the bud before they even start to bloom.

 

And the best part?

 

You'll save time and energy thanks to this process being fully automated. So sit back, relax, and let HubSpot AI Deal Forecasting by Forwrd.ai do the heavy lifting for you.

 

Want to join our early beta? 

 

Email me at gal@forwrd.ai, or sign up on www.forwrd.ai 

Forwrd_AI
Participant

I have great news regarding the feature request – "Update Win Probability Percentages Based On Historical Deal Data".

 

We've just released the 100% FREE AI deal forecasting feature for HubSpot users!

 

Here’s an explainer video - https://www.youtube.com/watch?v=DKCYKf2NWA0

 

You feedback is highly appreaciated.

 

In a nutshell, it lets HubSpot Sale Pro users:

  1. Generate accurate deal forecasts based on your historical data.
  2. Get deal-specific insights (and risk signals) to help you stay on top of your game.
  3. It's free forever and made specifically for HubSpot.
Cheers!
 
GT
gal@forwrd.ai

 

@azalaquett 

@dennismvelasco 

@SR_CHP 

@MyCaptain 

@Shak