One of the most important communications the sales team provides is forecasted revenue to be reviewed during sales quarters. Key operational areas such as finance, corporate management, operations, and marketing all use sales forecast data to make business-critical decisions. The sales forecast provides management information on aspects of the business such as budgeting, expansion, cash flow, investments for capital equipment and hiring. But in many sales organizations the sales forecast isn’t always taken seriously or considered accurate in its own right. Quite often, forecasts can represent emotionally driven aspirations rather than logically predicted sales outcomes. Sales forecasting is often attempted, but less often it’s done well. According to Ventana Research Group, more than half (57%) of organizations said their forecasting process is not reliable. The infographic describes four best practices to implement to improve the process and organizational forecast accuracy.
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Jess is a communications professional and Vortini’s lead content/web developer. Her current interests lie in the intersection of sales technology and machine learning. In her free time she reads a book-a-week, practices yoga, and is an avid gardener.