Using Sales Analytic Tools for Accurate Forecasting
Updated · Jul 14, 2010
Companies using sales analytics/forecasting tools show consistently higher levels of performance, according to a new research study. ‘Sales Forecasting: Analytics to the Rescue!’
that was published by Aberdeen Group. This Information Management article also notes recommendations from Aberdeen to achieve top performance include collecting, analyzing and disseminating accurate forecast to all stakeholders frequently, and also automating sales forecasting elements with ad hoc queries, customization and customer relationship management/sales force automation integration.
“Enterprise sales organizations are under increasing pressure from internal and external stakeholders to provide more accurate sales forecasts of revenue in order to better predict and improve the long-term health of their company. To maintain a competitive position, companies are turning to sales analytics solutions that provide an enterprise-wide data flow into the forecasting process, thus creating a more refined snapshot of future revenue and empowering more efficient, margin-driven sales activity as well as more pure selling time by the sales team itself.”