3 simple ways to improved business performance by using AI

Kelley Reynolds
3 min read

Project & Resource Management is the foundation for running great projects. You need to establish common ground and lead the team in the right direction. It's essential to plan and schedule resources and assign those resources to the right projects and tasks.

Forecast is an AI-powered Project and Resource management platform that helps project-based companies drive business performance. The platform has a collaborative work environment with unique features, assisted by AI, to make life easier for team members to get their work done, faster.

Project Manager working in Schedule

Project Management has a long history, lists of methodologies, and opinions on how to run a team in the best possible way. No matter your preference, Agile, or Waterfall, connectivity is vital for boosting your business performance.

Forecast was built from the ground up to emphasize the benefits of implementing AI in your workflow, projects, and business. Forecast learns from the experience across your company to improve time estimations, labeling, time tracking, and budgeting. 

Here are three ways AI can help you improve your business performance.  

1. Learn from your past data
2. Connecting all projects to available resources 
3. Share insights with accurate data

Key takeaway: AI suggestions give you a more accurate look at how your projects are performing and help you get back on track.


1. Learning from your past projects 


Learning from your data means that the algorithms are continuously improved to assist you even better from day-to-day. To give you a concrete example, when doing time estimates in Forecast, you specify a high and a low estimate. You can also assign one or more team members to the task, write a description, and label tasks.

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Estimations are the foundation of setting up a successful project and staying within Scope. As soon as you've finished your Scoping, you'll see a real-time budget generated for you in the Budget tab. 

 

Analyzing this data in an instant, Forecast is able to provide you with a more accurate estimate of the time needed to complete the task. The AI is using some of all of this data, combined with previous data inputs from other tasks and projects, to make a more reliable estimate. This estimate is then applied across the platform to present a more realistic view of your budgets and available resources.

2. Connecting all projects to available resources 


The beauty of Forecast is the simplicity, flexibility, and inter-connectivity of the platform. Everything is linked together, so you know if a change in your estimates occurs your project budgets, scope, timeline, and resources will reflect that change.

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Schedule is where you plan the schedule across projects and teams. Schedule is real-time and interactive.

Through the implementation of an open API and a wide array of native one-click integrations, Forecast is not only leveraging intelligence from within, but also by connecting with other tools you may already be using. Ultimately, Forecast will function as your hub for the interconnected one-truth on your business insights, projects, and resources.

 

3. Sharing insights with accurate data

Having your projects and resources aligned is paramount to driving business performance, profitability, and a thriving work environment. However, all of that hard work should not go unnoticed; you need to showcase the findings. Insights are where you create new Insights Reports. Creating customizable insights with different components allows you to show, to your team, what happened during the project.

You can share the critical insights with key stakeholders so you can account for all the relevant KPI's. Accurate data means that it is not only the right numbers but also real-time. The AI provides those accurate numbers you can rely on, and they work across all of your projects, team members, time tracking and budget. Gain that much needed project perspective, instantly.

Price and profit
 
Final takeaway: Estimating tasks and can help you in the long run with filling your pipeline- especially if you have multiple projects running at the same time. Having a connected platform, like Forecast, presents you and your team with a more realistic view of your projects and available time. 
 
This list was a quick look into some of the places AI is used in Forecast. We have tailored guides to help plan and scope with Forecast

Looking to get started? Book a Demo Meeting with our Success Team and learn about how you can drive your business performance.

Credit: Photo by rawpixel.com from Pexels

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