Welcome to Salesforce . Marc, you talked about a super cycle of buying and technology in the years ahead. What are the conversations? Your next question comes from the line of Brent Thill with Jefferies. On revenue, we are holding our guidance of 34.5 billion to 34.7 billion, representing over 10% growth year over year in both nominal and constant currency. You know, Marc, you've been through a number of cycles from a technology perspective. Below is the screenshot of the current worksheet I have. Notice how much more the summary tiles stand out when the background color changes. We also noted some incremental weakness in our marketing and commerce attrition. Right-click [City] on the Rows shelf and uncheck Show Header, Drag two copies of [Container] onto the Columns shelf, Click on the first copy of SUM(Container) on the Columns shelf. And through the GPT Trust Layer and rebuilding all of our apps, including Slack and Tableau, but as we demonstrated to him yesterday, a new sales cloud, a new service cloud, a new marketing cloud, and what we'll show on June 12th in New York City, a complete reconceptualization of our product line. In this post Ill demonstrate to you, how you can introduce these KPI indicators (UP/DOWN arrow) to your Tableau views or dashboards. And then, the thing which I think Marc hinted at, which is, you know, LLMs are not like a database. The hardest part is finding the symbols. In some cases, up to 30%. Just double click on what customers are coming to Salesforce and engaging with you around some of the new things that we'll hear about sounds like in June. Whether were looking at month-over-month, year-over-year or even custom time frames compared vs. another, measuring one time frame vs. a preceding time frame is almost always a value-add. If you look at Einstein's transaction level, I think that's enough evidence right there. LLM doesn't know. I was just kind of curious where you think we are in terms of people investigating AI versus when the spending cycle around it might kick in. Sometime when visualizing the trend of data, you can add indicators (up and down arrows) to show the change of data between point A and B. [Sales - This Month] and [Sales - Last Month]. And by the way, the Data Cloud, just in a month, we are importing more than 7 trillion records into the data layer, which is a very powerful asset we have. I can't give you the exact date. And as we look at some of the examples that we've given, like at the New York World Tour, you saw our marketing cloud do something very cool that it couldn't do even just six months ago. Now, Mike, let's open up the call for questions. Tricks of the Trade: Custom Number Formatting in Tableau But I also emphasized to him that LLMs, or large language models, they have a voracious appetite for data. It's definitely not just the technology of this lifetime, but maybe any lifetime. Yes, Marc. Emma, next question, please. And when you put it into an LLM, those permissions are not understood. But North America has taken the brunt of the deceleration. And we remain confident that we'll hit 30% non-GAAP operating margins in the first quarter of fiscal year '25. Good afternoon, and thanks for joining us today on our fiscal 2024 first quarter results conference call. For the first time, Salesforce was ranked No. Hi. And then, we have to be not only open, but also optimized. Yeah, I think when we think about our business from an industry perspective, we have a very nice footprint of our great technology companies and financial services company. So, if you back up, our customers can contract for professional services in two ways, either on a time and materials basis, which is typically used for smaller projects, or on a fixed fee kind of milestone basis. How do we drive a self-serve motion, an automated motion at the low end of our market to bring our account executives upmarket to drive higher productivity in the sales organization? But I realized that taking an LLM and embedding it inside Slack, well, maybe Slack will wake up. This is Elizabeth Porter on for Keith Weiss. And we are able to do a lot of things at that level. Can you just distill for us, if you don't mind, what is new about generative AI as far as Salesforce's opportunities are concerned and netting out against what Einstein has been able to accomplish for the company. While this is all fine and well, a few simple extra steps involving text symbols can really add a nice extra touch to these oft-used calculations by adding variation to the basic + and formatting type. So, today, one particular model may be good. These intra-enterprise trust, even once you have an LLM, you can't open the data to everybody in the company. We're working with them to augment their client advisors by building AI chat technology that creates a Gucci-fied tone of service. Say Less: How To Ensure Your Tooltips Add Value, Building a Tableau Dashboard for National Donut Day, Data Analysts of the Future: The Skills Desperately Needed in an Ever-Changing World. We'll handle all the compliances and all behind the scenes. Below, youll see some other preferred options of number formatting that InterWorkers use within the confines of these three formatting sections: There is an extra layer to add if you want to dynamically color the special characters, though, because the custom formatting box does not allow for anything outside of what happens in the aforementioned three scenarios. Cost basis and return based on previous market day close. And I think in each of these areas, we can offer more value. We have the Data Cloud, where we have all the 360 data which is there. With up arrows or triangle ( ) being used to show a positive change or a rising trend, while down arrows or triangle ( ) being used to show a negative change or a falling trend. And that's very unusual. Sales tax will be added to invoices for shipments into Alabama, Arizona, Arkansas, California, Colorado, Connecticut, DC, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, It's an incredibly exciting vision for generative AI to transform what was customer service into now customer service, marketing, and sales, all through augmenting Gucci employee capabilities using this amazing generative AI. Thank you. Our last question comes from the line of Kash Rangan with Goldman Sachs. And as we kind of brainstormed and talked about, of course, he was paying a Slack user fee and, you know, on and on. And so, we are really focused on this productivity measure and metric for our organization right now, investing heavily, as I mentioned earlier, in the enablement part of our organization. Next, after I have picked out my symbols, I will copy them onto the clipboard and head back over to Tableau. And the entire research team deserves a huge amount of congratulations. I totally understand how large enterprises are turning to Microsoft, given the productivity tools and suite that they have. [VIDEO] - UP/DOWN arrows are some of the most used shapes to communicate the trend of data (the direction of data). It has to be architected around compliance, around trust. Of course, we have been a leader in this area with Einstein, more than a trillion transactions delivered this week. And there weve our view. And like Marc was saying, the only conversation everybody is interested is on AI. Thanks, Amy. And we are investing heavily to make sure our account executives, our sales teams, in fact, the entire company is able to articulate our value proposition to our customers. Summary tiles are a great way to quickly communicate a few meaningful measures to your end users in a dashboard. Our press release, SEC filings, and a replay of today's call can be found on our website. Coupled with all of this is what they are looking for guidance and how we think we can deliver significant value to our customers. That one, I think, we should be tempered with expectations. They're going to leverage the metadata platform and do this grounding automatically for our customers. Lets work together! How do we continue to look at self-serve at the low end of the market to drive better efficiencies in our organization? So, there's a lot of value. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Last quarter, I told you about how our AI team is getting ready to launch Einstein GPT, the world's first generative AI for CRM. We are hyper focused on delivering the next wave of innovation led by Data Cloud and Einstein GPT. As you can see, all the values have arrows. But soon, they will have the ability to tap in to our LLMs, like ProGen and CodeGen, that have the ability to code for them automatically. Well, thanks, Kash, for giving me the opportunity to talk about our AI vision. Our core offerings remain resilient. This is why we're so excited about our AI plus data plus CRM strategy. With this view users can see the trend of data as well as see the percentage change between the two extreme points of the data set. And I'll just say that, of course, his primary focus is on productivity. Not all of this formatting has to be with comparison metrics, though. This is particularly true when an increase is a bad thing and a decrease is a good thing (e.g. If you change to "custom" number formatting, you can add in an up arrow for positive numbers and a negative arrow for negative. For a lot of Tableau users, comparison metrics are a very common business ask. Our customers need to understand where their data is going, and they must be able to maintain data integrity and access and privacy controls. Thanks, Karl. There are three easy ways to access text symbols: Any of these options will work for our goal, but use whichever option is best for your work. For customers who are, for years, have used relational databases as the secure mechanism of their trusted data, they already have that high level of security to the row and cell level. More than 90% of the Fortune 100 use Salesforce, and they average more than five of our clouds. And there's a bit of a nuance with ProServ. And with that, let me hand the call to Marc. Oh, yeah. You've described very well this GPT Trust Layer, which I think is going to be a significant amount of value-added that we're going to provide to our customers. Your line is open. Our remaining performance obligation ended the quarter at 46.7 billion, an increase of 11% year over year. Benefits that we're getting from that initial transformation. And every company is going to have to transform because every company is going to have to become more productive, more automated, more intelligent through this technology to be competitive with other companies. The finished product should look like this inside of your Text label: #,##0 days ago;#,##0 days to go;Expires Today. And we're going to solve it for that. But these are primarily predictive transactions built on machine intelligence, machine learning, and deep learning. Data Cloud creates a real-time intelligent data lake that brings together and harmonizes all of our customers' data in one place. This assistant model is where we'll see a lot of uptick. Since our last call, we've removed layers to get closer to our customers and took complexity out of our business to help us accelerate through the rest of the year. Salesforce (CRM) Q1 2024 Earnings Call Transcript Salesforce (CRM 0.06%) Q1 2024 Earnings Call May 31, 2023, 5:00 p.m. And through Q1, we've now returned more than $6 billion in share repurchases. Initially, there is public data where everybody can use it. We're thinking about self-serve in the bottom end of our market. But as you start to engage with customers, what's resonating relative to the Salesforce gen AI journey? Color each of the fields as you wish in the Text label. As Marc explained, we're building Einstein GPT and Data Cloud into every cloud in our Customer 360, and we're perfectly positioned to help our customers harness the phenomenal power of AI. The next time you are building a dashboard, take a second to consider whether using custom number formatting or the Character Map could benefit you. And in those cases --. Bernard is a data analytics consultant helping businesses reveal the true power of their data and bring clarity to their reporting dashboards. Thank you for signing up to the OneNumber Newsletter! What I heard back was not a list of incredibly sophisticated technical maneuvers or very involved calculations, but instead a variety of small things that add up to make a big difference. Capex for the fiscal year is expected to be slightly below 2.5% of revenue. That is what our customers want. But I did notice that there was only one application that he was using on his laptop, and that was Slack. I'm talking about the open framework that's going on inside Salesforce and so many of our customers. And our Salesforce AI research has a lot of Salesforce state-of-the-art models and industry cases, which we are optimizing to run at very low cost and high value. If there are 6 or fewer copies of [Container] on the Columns shelf, then click on the marks card labeled "All" to select it, If there are more than 6 copies of [Container], then at the bottom of the marks card, click "More Fields" and select "All", Drag the calculated field used to determine the color of the rows to Color, Click Size and adjust the slider all the way to the right. Amy, regarding Americas, that was a pretty large decel, one of your slow growth quarters, I think, ever in Americas. Dropping that calculation on color reveals that the output is Red because the value decreased. We shared with you how we hit the hyperspace button across the key areas of our transformation, restructuring for the short and long term, reigniting our performance culture by focusing on productivity, operational excellence, and profitability; prioritizing our core innovations that drive customer success; building even stronger relationships with you, our investors. It really is the velocity business that has held us back a bit on our create and close, some of the SMB transactions. So, I think I've met about 70 customers in the last quarter. In Q1, we returned 2.1 billion in the form of share repurchases, bringing the total returned to more than 6 billion since the program was initiated last August, representing more than 38 million shares. Ratinger Strae 9 Creating the Shapes for different values a. And then, you developed these specific grounding techniques, which are going to allow us to keep our customers' data safe and not be consumed by these voracious large language models, which are so hungry for all of our customers' data. Create a calculated field with a name like "Blank" with a calculation similar to the following: Right-click [Blank] on the Rows shelf and uncheck Show Header, (Optional) decrease the width of the columns if necessary so that the color completely fills the columns, For each bottom header, right-click the header "Container" and select Edit Axis. The professional services impact represents approximately a 1 point headwind in growth. In Q1, we delivered 8.2 billion in revenue, up 11% year over year and 13% in constant currency. (if you are using Tableau Desktop 2020.3 or later just create a calculation with the number 1 in it). At InterWorks, we work with clients in industries of all shapes and sizes, so I asked around amongst our many consultants for the tips they use most in their day-to-day work. So, clearly, a big motion for us right now. I tried to address it on the last call. That's right -- theythink these 10stocks are even better buys. Invest better with The Motley Fool. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. And while many of these will be created by Salesforce developers, far more will be created by our incredible trailblazer ecosystem. Do you think with all the purging and optimizing of IT budgets, which is already taking place, plus Salesforce's headcount optimization already being underway, that, perhaps, the next recession might actually be more manageable or easier to navigate than what you had seen in some of the prior cycles? And this month, we also announced Tableau GPT at our Tableau conference, where we had over 8,000 in-person attendees. In the example above, Ive included the triangle symbols from the character map to use instead of + and signs. And, you know, I'm so grateful to them for how they supported the whole company, all the customers, and themselves during what was probably one of the most disruptive quarters that I've seen. So, Marc, it feels like the tech and software industry has had a recession without the broader economy being in a recession quite yet. Below are some examples of these: In this example, we are using the custom formatting to add context next to the number that represents how many days have passed or how many days there are to go until a customers membership expires. Give some more context to your question so we can better understand how to help you. Change the chart type to Shapes Step 2. We had some amazing wins in the quarter with Northwell Health, Paramount, Siemens, Spotify, NASA, and the U.S. Department of Agriculture, among others. The really complex automated cases, the role level, required level sharing, we have a lot of techniques which we are developing which we will do. And I'm expecting, you know, a full 1 point headwind to CRPO for the quarter from professional services. It wrote an email on its own. This article is a transcript of this conference call produced for The Motley Fool. And address this one issue that a lot of customers come in like they did yesterday, and they tell us they think they're just going to take all of their data, all their customer data, all of their information, and put it into an LLM and create a corporate knowledgebase, and it's going to be one amalgamated database. On our last call in March, we told you about how Salesforce had radically accelerated our transformation to profitable growth. But now with LLMs, everybody can start to code. (Optional) Click the arrow in the upper-right corner of the, Click the arrow in the upper-right corner of SUM(Number of Records), select Measure (Sum) > Minimum. We have now largely completed the restructuring announced in January, and we're completing our comprehensive operating and go-to-market review. As a reminder, our commentary today will include non-GAAP measures. So, there are a lot of other techniques which are very technical which we put it on our blog, but that's the innovation that we're doing. Brian, do you want to come in and see if you can address that in more detail? Thank you for subscribing to the OneNumber Newsletter! But we must do it in the auspices of trust, data integrity, and governance. Twenty percent, we are seeing minimum. Thank you for your question! And that's also where we're going to see this going for the rest of the year, driving the expansion to 28%. I couldn't be more proud of how our team has come together, stepped up, and delivered these results. I did blue for positive and orange for negative in my example. Your line is open. And then, as the models get better and better, we keep taking use cases where we can fully automate it. For the marks card for SUM(Container), drag [City] onto Label. Every CEO realizes they're going to have to invest in AI aggressively to remain competitive, and Salesforce is going to be their trusted partner to get them to do just that. Your next question comes from the line of Raimo Lenschow with Barclays. The GPT Trust Layer gives connected LLMs secure, real-time access to data without the need to move all of your data into the LLM itself. We'll be talking more about this at our AI Day event on June 12th in New York City, and I hope that you'll join me there. At its foundation, Einstein GPT is open and extensible. I'm wondering if those planned investments are greater than you anticipated when you initially set the guidance three months ago such that you need to run a little bit harder on opex management to offset it and keep delivering on your stated margin targets. Adding Trend Indicators in Tableau up & down arrows to show the trend of data. In Q1, we saw amazing momentum with customers, like the California Office of System Integration, Paramount Global, Revel, and OpenAI, and rolled out an AI-ready platform, Slack canvas, and app integrations with ChatGPT and Anthropic squad. Our sales organization remains with a very high level of productivity. And you really showed something amazing, which was that deep learning language models have shown this incredible promise that you just articulated in various biotechnological applications, including protein design, engineering. So, when you look at that, especially a kid that generated grammatically and semantically correct natural language sentences for diverse topics or how you're going to use that inside our platform against other models that you're seeing like LLaMA, OpenAI's model, Anthropic, and others, when will Salesforce use our own models like CodeGen, ProGen, TCode, our BLIP model, when will we use an outside commercial model like an OpenAI or an anthropic? Conditionally Formatting Cell Background Color - Tableau In the Edit Axis dialog for the bottom axis, do the following and click OK: On the General tab, delete the title "Container", On the Tick Marks tab, select None for Major tick marks, For each top header, right-click the header and then select Edit Axis. Emma, next question, please. With that, Emma, let's move to the questions. Every CEO I've spoken with sees AI as a revolution, beginning and ending with the customer. If you havent changed your text color it should adjust automatically based on the darkness of the background color. It's going to be quite amazing. That's really what they're looking for because they have been using our AI platform. Tableau Public Pilot Feature: Sankey and Radial Charts, How to Easily Export Your Tableau Dashboards With URL Actions, Visualizing Financial Statements in Tableau. Our guidance incorporates the momentum of our execution in Q1, offset by the persistent measured buying behavior and a decline in professional services fixed fees contribution. That requires a little bit more fine-tuning, and we'll have to work with specific customers to get to that level of model performance. Not all models are equal. We can see how Data Cloud and Einstein GPT are going to create experiences that weren't possible before and really drive growth. Emma, let's move to the next question, please. I've also been asked numerous times this quarter by our investors and our customers how we're able to make so much progress so fast and deliver these incredible numbers. But through his regulatory standards, he cannot deliver all that data into the LLM because it becomes amalgamated. Answer. How to add color to arrows only (Green for +values and Red for -ve Values) without affecting the values on the row i.e. And we have a lot of exciting ideas of things that we can do to help our customers connect with their customers in a new way using generative AI. The name of the worksheet is "Sheet 18". Srini, I want to ask you a question. Thanks, Mike, and thank you all for being on the call. Except as required by law, we do not undertake any responsibility to update these forward-looking statements. That is not really an area that has held us back. Incredible. All that we're doing with our customers, the demand we're feeling from our customers, Marc mentioned it. Here's the custom format for Avg Change: #,##0.000; -#,##0.000 Both of which were a bit slower than we would have liked in the Americas in Q1. A great example already deploying this technology is Gucci. So, we are seeing some good things. One of the things that we are seeing right now is not only professional services, as a whole, seeing pressure, but more customers are choosing to contract on a time and materials basis, which is not included in our CRPO.
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