New Trend Story
How Can You Use New Trend Stories?
New Trend stories identify patterns of change and not a single incident of change. If a given metric is above the expected range for three or more days and continuing to move it, it is likely a new trend is developing instead of a series of isolated incidents. If a trend continues to develop, you will see additional new trend stories that highlight how the trend is accelerating (or decelerating) over time.
Here are a few examples of how functional teams use New Trend stories:
- Marketing teams use this story to track trends with ad spend, ad performance, and customer behavior changes.
- Sales teams use this story type to track trends by product, account executive, territory, and even store designs.
- Customer Success teams identify new trends with service tickets and customer segments.
- Finance teams track trends with cash flow, revenue attribution, and gross margin.
What are New Trend Stories?
New Trend stories capture ongoing directional shifts in time series values. For example, if a given metric is above the expected range for three or more days, and continuing to move up, it is likely a new trend developing instead of a series of isolated incidents. These stories provide you with additional information to help you understand the trend, including the length and the relative increase or decrease deviation from the model, over the duration of the trend.See how this story identified an inventory shortage in a global pharmaceutical manufacturers supply chain
Why New Trend Stories Matter?
New Trends can open opportunities, but they can also signal risks. The earlier you can capitalize on (or reverse) a new trend, the better position your business will be in to succeed. Outlier can identify new trends without being told what to look for. The unexpected that Outlier identifies will allow you the opportunity to quickly make data-driven decisions to immediately impact your business.
Outlier automatically notifies you of important and unexpected happenings in your data. Outlier’s platform collects and monitors your data and notifies you quickly of important moments of unexpected or dramatic change. These changes allow you to understand what is truly impacting your business so you can make strategic, data-driven decisions today.See how this story is informing change for a Retailer