LONDON--(BUSINESS WIRE)--Quantzig, a leading analytics advisory firm that delivers customized analytics solutions, has announced the completion of their new article on essential sales forecasting methods for businesses. Sales forecasting plays an important role in the success of any business as it impacts several business areas such as sales operations, budget allocations and marketing strategies. Unfortunately, many companies still struggle when it comes to the implementation of effective sales forecasting techniques.
“Forecasting your sales accurately and building an effective sales plan can help you to avoid unforeseen cash flow problems and manage your financing needs more effectively,” says a sales analytics expert from Quantzig.
Inaccurate sales forecasting has serious repercussions on different levels of business operations. Overestimating sales results in overspend while underestimating sales leads to difficulty in the management of order influx. This article highlights some of the essential sales forecasting methods that companies should adopt to precisely estimate marketing spend.
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Sales forecasting methods
Opportunity forecasting helps companies to filter their sales funnel and estimate the chances of a deal getting close to conversion. It can also help a company to gain a better understanding of its pipeline stages. This sales forecasting method proves to be very helpful when you want to measure the performance of your sales team and identify checkpoints where improvement is required to convert a prospect into a potential buyer. To adopt this sales forecasting technique, it is crucial for companies to analyze the past performance of their sales team.
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Regression analysis is considered to be one of the most preferred choices for sales forecasting. This technique aids companies to analyze factors that might be affecting their sales, in order to make necessary changes in their sales process. This sales forecasting method can derive desired outcomes only if you have analyzed the statistics and potential factors that affects the sales performance of your company.
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal