Hello,
I am looking for opinions regarding the following: businesses need to record risks from competitors (something opposite to what we know as Opportunity) with parameters like how much $ per year might be lost at a specific account, why, what is the chance of the event happening, etc. How would you model that: custom entity or somehow smartly using the default entities with some customization on top?
Thanks and regards,
Vassil
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Interesting options.
regards,
harihar
Hi Vassil,
It would work as well.
But you need to have a plugin to make a counter-intuitive method.
If you just use the Lost Opportunity, assuming it would be easier job for you as well.
Just a thought.
Thanks.
Hi Vassil,
Actually the OOB feature is not that smart...I mean we can track the lost revenue, but nor about the change of the event etc unless you build it.
How is actually your competitor tracking?
Okay, I have example...
I have client who every day or by schedule comes to the outlet and monitor the Outlet (Outlet that selling their products) then they make a note about the competitor, how many bottles (since they are Wine/Beer Maker) displayed, overall about visibility and proper storage like that..Then if possible, they ask the owner about the selling, of course roughly, then they also compare about with their monthly revenue in that particular outlet..
So, what we did is we treat that Outlet as Account then we have Opportunity, then we have a note history about our visibility vs competitor visibility as well.
So, yes, we need to have custom entity to track the Competitor..
You might need to create another custom entity to store Competitor, Date, competitor order, etc.
Then also link that entity to the specific Account.. Then you also need another entity to store the yearly target.
Another approach is using Opportunity entity.
Opportunity as we know have statuses, like Won/Lost/Open.
Everytime you Lost, the system would ask you, why?
And how much is depends on the est.revenue, and you lose to whom competitor?
You can also create another status reason just to categorize you the reason why you lose + the free text description.
Remember, the Opportunity is tied to Account..
So that you can see by specific account, how many opportunities have been lost and how much the lost revenue?
And you can see by the specific reason.
Then you can build a report by specific account to track the yearly revenue...
All is based on Opportunity.
So, you can utilize this OOB feature.
Hope this helps.
Thanks.
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