What Should You Know about Sales Forecasting Methods?

Source- Business Upside

Let's take a quick look at what sales forecasting is in general before delving further into its advantages and various techniques. We'll talk about the same things under the headings below.

What is Sales Forecasting?

As the name implies, sales forecasting is the process of estimating or projecting how much money a business, a group of people, or an individual will probably make within a specific time range. As you go through the article, you will see how important it is for your company to be able to predict revenues.

Sales Forecasting Methods

Let's examine the many approaches to sales forecasting below. The approach you take will be determined by the information at your disposal. Above all, it will rely on your prediction goals.

1. Lead-Driven Forecasting: This approach to sales forecasting is reliant on the information provided by the sales force. Each lead is given a value based on the likelihood that the closing will be successful.

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