Estimatic is a revenue/profit modelling system that quickly visualizes the possible outcomes for a business model.
Using a Monte Carlo statistical simulation engine, Estimatic immediately calculates 10,000 revenue/profit scenarios to provide an accurate picture of a business model’s outcomes at a future point in time.Benefits
Product teams are asked to predict precise revenue (or ROI) at a point in the future knowing that they will most likely not hit it. Creating a financial model (or business case) is difficult unless you are a financial controller. It is time consuming.
Financial models and business cases are rigid and hard to modify, and creating them is disconnected from the everyday work of a product team. They just do it to secure the next budgeting round. While they have no idea of the degree of uncertainty behind the estimates.
Use the tool as part of the stage gate decision making process to understand what the potential outcome of every idea in the portfolio is and the degree of certainty of each specific outcome.
Determine the limits of the variables in your business model formula that will yield certain outcomes.
These limits can educate fail conditions of future Lean Startup experiments.
Support Product Owners with an ability to decide on the features and functions that have the most impact on the business model’s success.
I've had the opportunity to see Estimatic in action in 2 different settings. I have applied it to my own startup and I have seen it in an education setting as part of my Entrepreneurship Workshop at Queen's University. Estimatic excels at making the uncertainty embedded in new venture profit forecasting visible in a clear and concise way. In my 15+ years as a tech entrepreneur, no other alternative comes close.
After all the subjectivity is removed, I feel that investors are essentially looking for proof of the potential of NuOrder. Estimatic was a key component and differentiator in my pitch of that proof.
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Peter helps organizations innovate so that anything is possible. He has over 30 years of enterprise consulting experience with most of the major Canadian banks and insurance companies including the Canadian Imperial Bank of Commerce, Manulife, State Street and Sun Life.. His Lean Product Development journey has taken him through working with a Startup Accelerator, a Venture Capital fund, various early-stage Startups, and several enterprise lean/agile transformations Peter holds a Math/Computer Science degree from The University of Waterloo.
Dan is helping large companies transform to be able to innovate for the future, while running their core business today. Dan holds a dual MBA degree. He co-authored The Corporate Startup which was awarded the 2018 Management Book of the Year Award for Innovation and Entrepreneurship by the Chartered Management Institute and The British Library. Dan has worked as a consultant for several companies including Bayer, John Deere, Deutsche Telekom, Jaguar Land Rover and Den Norske Bank.