My approach to forecasting revenue involves a combination of historical data analysis, market trends, and current sales pipeline assessment. I start by reviewing past performance to identify patterns and seasonality. Then, I analyze external factors such as market conditions and competitor activities. Finally, I integrate the sales team's input on the pipeline to ensure the forecast is both realistic and aligned with achievable targets. This comprehensive method helps in creating a balanced and accurate revenue forecast.

When managing a diverse portfolio, I prioritize revenue streams by assessing their growth potential, profitability, and alignment with strategic goals. I use a weighted scoring model that considers factors like market demand, competitive landscape, and internal capabilities. High-growth areas with strong margins and strategic fit receive the most attention, while low-priority streams are either optimized or phased out. This ensures that resources are allocated efficiently to maximize overall revenue.

To improve revenue retention, I focus on enhancing customer satisfaction and loyalty. This involves regular customer feedback collection, personalized service, and proactive issue resolution. I also implement loyalty programs and upsell/cross-sell initiatives to increase customer lifetime value. Additionally, I monitor key performance indicators (KPIs) closely to identify at-risk customers early and intervene with targeted retention strategies. By fostering strong customer relationships, I aim to reduce churn and sustain long-term revenue growth.

When discrepancies arise, I first conduct a thorough root cause analysis to understand the factors contributing to the variance. This could involve reviewing sales data, market conditions, or internal processes. Based on the findings, I adjust the revenue forecast and communicate the changes to stakeholders. I also implement corrective actions to mitigate future discrepancies, such as refining sales strategies, improving data accuracy, or enhancing forecasting models. Transparency and proactive communication are key to managing such situations effectively.

In a previous role, I identified an opportunity to increase revenue by expanding our product line to include complementary services. I conducted market research to validate demand and collaborated with cross-functional teams to develop and launch the new offerings. By leveraging existing customer relationships and targeted marketing campaigns, we achieved a 20% increase in revenue within six months. This success was due to careful planning, stakeholder alignment, and a focus on customer needs, which collectively drove the strategy's implementation and positive outcomes.