Einstein Opportunity Scoring : jayakrishnasfdc
by: jayakrishnasfdc
blow post content copied from Jayakrishna Ganjikunta
click here to view original post
In Sales Cloud Einstein Scoring we have 2 models.
- Opportunity Scoring
- Lead Scoring

Salesforce’s New Artificial Intelligence engine(Einstein) has been the focal point of their development over the last few years.
One particular feature that caught our eye is Einstein Opportunity Scoring, will be available for free following the Summer ’20 release. This feature is provided free to all Salesforce customers.
What is Einstein Opportunity Scoring?
Salesforce Einstein Opportunity Scoring is a system that uses data science and machine learning to score your sales opportunities so that you can prioritize and act. •AI driven score that is given to Opportunity records, helping sales reps prioritize which opportunity records are most likely to close. •Each opportunity is given a score from 1 to 99, and can be visible on the opportunity record layout and opportunity list views.

Advantages of opportunity scoring
• Along with the score, Einstein will provide you with what factors impacted the score (positive or negative) & suggestions for how score can be improved.
• It helps the reps not knowing which deals to focus on
• Assist on Losing track of an opportunity’s status, which can result in a delay of decisions or the loss of deals from the delays
• Helps in not knowing which deals and sales reps need support or coaching from your sales manager
• Amount keeps going up
• Past wins with this account
• High success rate from this lead source
How Einstein Opportunity Scoring Works
The Salesforce Einstein Opportunity Scoring system analyses your closed opportunities (both closed-won and closed-lost) to build a Scoring Model.
The criteria that the Einstein Opportunity Scoring Model uses to create the Model are:
• each opportunity’s record details, history, and related activities (including all standard and custom fields); •the related account’s record details and some record history
• details about the related products, quotes, and price books related to the opportunity.
The Einstein Opportunity system analyses the Opportunity data and refreshes the Model every ten days. However, Opportunity Scores are updated every few hours.
How to Gather Requirements to Build


Pre-requisites to Build
However, most businesses that have used Salesforce for more than 12 months would easily achieve them, while businesses that have used Salesforce for at least 6 months are already well on the way. If your business uses Salesforce, it can run Einstein Opportunity Scoring as long as:
• it has 200 “Closed Won” opportunities in the past 2 years, each with a minimum lifespan of 2 days;
• it has 200 “Closed Lost” opportunities in the past 2 years, each with a minimum lifespan of 2 days;
• uses the standard Stage field on the opportunity
Building Prediction Set

Positive Examples:
•Previous won opportunities with the related account
•Opportunity moving quickly through the stages
•High numbers of activities on the related account
•Opportunity has an open quote
Negative Examples :
•Previous lost opportunities with the related account
•Close date overdue or being pushed out
•Low numbers of activities on the related account
•Low success rate in the industry assigned to the related account

Tips for defining prediction set
You do not have to explicitly specify which records to score since all records remaining in your segment after example filters are applied will automatically become your prediction set:
Segment records — example set = prediction set (or records to score).
Be sure to use the data checker in Einstein Prediction Builder to make sure you have the correct number of records, including positive examples, negative examples and records to score. You can also use reports to verify this, if in doubt.
Implementation
With opportunity scoring, we want to predict the likelihood of an opportunity to reach “Closed Won” stage, but we do not have a checkbox field to represent this outcome. In this case, we can use special filters to specify what outcome is considered positive and what outcome is negative.
This is how we can set this up with Prediction Builder:
From Setup ==> enter and open ‘Einstein Prediction Builder’ and click New Prediction.
1. Give the Name of Prediction example ‘Opportunity Scoring’ Select the object you’d like to make a prediction on — Opportunity. And check if you have required data by clicking on ‘Check Data’.


2. Now Define your segment using the filter under “Want to focus on a particular segment in your dataset?”

3. We are answering the question “Will this Opportunity be won?”, so we need to select “Yes/No” type for prediction.
Note: the prediction will return a number which corresponds to the likelihood of winning an opportunity, but this is still considered a Yes/No prediction.

4. We do not have a custom field created that stores the outcome of opportunities closed won, but we have a picklist instead (such as Stage: Closed Won, Closed Lost, New, Quoted, etc), so we select the “No Field” option.

5. Next, we need to define positive and negative examples using the “Yes” example and “No” example filters.



6. Include relevant fields. We recommend including all fields as you might get some unexpected insights.

7. Pick the name of the field where your predictions will be stored. This is the field that will represent the opportunity score or the likelihood of winning an opportunity. It will show you a number from 0 to 99.

8. Review and build your prediction.

After it will take few minutes of time , keep refresh and check the prediction set status changed from ‘Pending’ to ‘Ready for Review’ and After Enable it from drop down option.

Next Steps
Do not forget to go to the Details tab of your scorecard. Examine your top predictors and validate that they make sense from a business perspective. Sometimes, you will find some surprising insights there — i.e. positive correlation shows which values of the selected fields correspond to a higher chance of winning an opportunity (positive predictive factors), while negative correlation shows which values of the selected fields are associated with lower win rate (negative predictive factors). Do not be discouraged if the insights are obvious — this only confirms that Prediction Builder is picking up the right patterns in your data. To see the predicted values, add the Predictions field (opportunity score) to the list views and page layouts and optionally, add the Einstein Predictions Lightning Component to the page layout as well.


After a few weeks or months, you will get real-life data and you will know which opportunities ended up being won or lost. Then you can do a predicted vs actual analysis to understand how your prediction is performing on real data, using Salesforce reports , if you have access to Einstein Analytics, you can use this Accuracy Template AppExchange package , Salesforce developed for us.
You can add the Field ‘AI Opportunity Score’ into below.
In List views
On Record Page
Iin Reports
Custom Report Types for Einstein Opportunity Scoring
Run reports that show how Einstein Opportunity Scoring impacts your business or what factors have the biggest affect on your deals. First, set up custom report types so that sales managers and other teammates can create the reports they need.
- Make sure you’re familiar with custom report types and the general steps for creating and maintaining them.
- Create custom report types with the appropriate object relationships, and configure them as necessary.
- To get started, check out these examples of custom report types to use with Einstein Opportunity Scoring.

- Deploy the report types you want to make available.
- Let your sales teams know that they can create reports using these custom report types.
Tips to Improve Opportunity Score
• Get your account hierarchies in order and allocate your opportunities to the correct account. Einstein Opportunity Scoring takes into consideration your existing relationship with an account, looking at past won and lost opportunities. If you’ve been lumping opportunities into a single account instead of setting up a proper account structure, this will impact your score.
• Einstein Opportunity Scoring analyses your past wins and losses; if you haven’t been entering every single opportunity (this means entering lost opportunities as well!) your scores may be unreliable.
|
• Get into the habit of entering opportunities into Salesforce as soon as possible, at the start of your sales process e.g. your first stage.
• Progress the opportunity through the stages. Opportunities in the same stage for too long will appear stagnant and an opportunity moving through the stages will have a higher score.
• Move your opportunity to the next stage as soon as appropriate. In my org, opportunities at a higher stage have a better track record of being successful than those at earlier stages e.g. prospecting or qualifying.
• Enter an accurate close date and keep it up to date. An overdue close date will have a big impact on your score, as will pushing the close date out multiple times.
• The “Type” field can have a big impact on the score and don’t be surprised if new business has a lower score. Existing or repeat business is often easier and cheaper to achieve, plus it takes less time.|
• Update key standard fields regularly e.g. Stage, Probability, Close Date and Amount for a higher score.
• The more fields completed on the opportunity record, the more accurate your score.
License & Access
Einstein Opportunity Scoring, which is part of the Sales Cloud Einstein product suite, is available to eligible customers at no extra cost. Access is available through the Sales Cloud Einstein For Everyone permission set. Review who has access to the permission set, what’s included, and how to manage user assignments.
The Sales Cloud Einstein For Everyone permission set is intended for users who don’t have a Sales Cloud Einstein license. For details about whether the permission set is available to you, contact your Salesforce account executive.

Thanks for Reading …
Jayakrishna
February 27, 2021 at 10:36PM
Click here for more details...
=============================
The original post is available in Jayakrishna Ganjikunta by jayakrishnasfdc
this post has been published as it is through automation. Automation script brings all the top bloggers post under a single umbrella.
The purpose of this blog, Follow the top Salesforce bloggers and collect all blogs in a single place through automation.
============================

Post a Comment