New: Capacity Planning

Fourworkx WFM has been expanded with the “Capacity Planning” component! You can now make a capacity planning based on the work queues that you have forecast in Fourworkx WFM. Divide the work queues into groups and organization structures to create a review of the necessary capacity at total level or departmental level in that way…. Read more »

Correlations

Did you know that the number of people drowning each year in a swimming pool in the USA has a strong correlation with the number of films starring Nicolas Cage in that year? You can find these and other absurd correlations on: http://tylervigen.com/ In order to apply useful correlations to the forecast of the supply… Read more »

What makes a person a good forecaster?

When are you a good forecaster? When your forecast differs only a little from reality? Or when you can explain exactly why your forecast differs from reality? Communication with the different interested parties within the company and with departments and persons that can supply information that affects the forecast is at least as important as… Read more »

What is the cost of forecast inaccuracy?

onnauwkeurigheid

Suppose: I run a contact center that is open from Monday to Friday from 8:00 – 18:00. My service level target is 70% in 30 seconds and my talks take about 5 minutes on average. The forecaster expects 5,500 talks in a week, but ultimately there are only 5,000. The costs for the scheduled agents… Read more »

Big trend for the contact center branch in the coming five years: analytics

data

The well-known CCB Report of Dimension Data, which zooms in on strategic and operational performance trends in the global contact center branch, shows that more than 40% of the interviewed organizations do not have data analysis tools. The capacity to analyze across several channels, such as apps, e-mail or self-service channels, is lacking. This is… Read more »

How to calculate forecast accuracy?

The right method to calculate forecast accuracy is dividing the forecast by the actuals and not, as many companies do, dividing the actuals by the forecast. Why? Dividing by the actuals means that you determine the deviation in respect of reality. At the same time you prevent a larger absolute deviation from falling within the… Read more »

How long do you take to make a forecast?

It will probably only take you a few minutes to produce a forecast for next week on the basis of a gut feeling and the experience of the past few weeks. But how much time do you need to make a forecast of the supply of work for the rest of the year? Making a… Read more »

Errors in Excel models

Fact 1: Since the end of the past millennium there have been various investigations into the number of errors in Excel models. The results of the investigations vary, but on average it appears that in a spreadsheet of more than 150 rows almost nine out of ten spreadsheets contain errors! (source: click here) Fact 2:… Read more »

Garbage in, garbage out

Garbage in is garbage out! Everybody nods if you say that you cannot make a good forecast without or without proper historical data. Making a forecast without history verges on fortune telling, which we will not discuss here. But suppose you do have historical data, but these data contain all kinds of non-recurring incidents. If… Read more »