New Relic Chooses Aviso AI To Engine Its Consumption Forecasting Sales Methodology

New Relic Chooses Aviso AI To Engine Its Consumption Forecasting Sales Methodology
Founded in 2008, New Relic is a technology company that develops cloud-based software to help website and application owners track the performance of their services.

Aviso was the only company that we could push the data into Aviso from our existing data warehouse and apply the AI ML out the box, and then return the data back. The other vendors weren't there yet. They had roadmaps, they could talk about things that might be coming down the road, but on our timelines, there wasn't anyone else that could do that part of the requirements.

Ted Noble
SVP GTM Strategy and Operations, New Relic

New Relic selected Aviso for its AI-powered revenue and consumption forecasting capabilities to make the business model be more customer centric to drive more value, as opposed to other vendors like Clari and Anaplan, whose out of the box AI ML were just not capable enough to deliver to their requirements.

Challenges Faced

  • Lack of visibility into consumption to predict revenue and identify deal risks and opportunities
  • Struggle to integrate the previous solution with non-CRM data sources for accurate forecasting

Solutions Provided

  • Consumption forecasting at account level for revenue, prices, and quantities considering external macro and internal factors
  • Consumption forecasting integrated with traditional revenue forecasting using data from all sources including non-CRM such as Snowflake
  • Integrated view of an opportunity using AI/Email Calendar and CRM

Benefits For New Relic

92+% accuracy in forecasting consumption for last quarter leading to revenue realization for their usage-based business model

Changed pricing structure from 12 different individual pricing SKUs to a single platform pricing model

Insights into renewals, event data and churn rate through buyer intent analysis

Rise in new customer acquisition with multiyear contracts and early renewals with increase in active customer accounts

Increase in consumption run rate (CRR) in aggregate by net $50 million

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