Your sales forecasting process is broken. What are you doing to fix it?

I will review our process step by step to see if where we have gone off course. Once I determine what is the root cause that needs to be corrected immediately. Sometimes a process will need to be adjusted as there could be another more efficient process with a greater return on investment. I will use both qualitative and quantitative analysis while updating the process. Once any changes are made, I will track them closely to ensure we are back on track.

To fix something that is broken, begin by assessing the current method. Review how forecasts are generated, updated, and communicated. Examine sources, methods, frequency and stakeholder roles. Measure your findings against results and industry standards. This will highlight areas for improvement, and be your guide towards a more reliable forecasting system.

Sales Forecast is a very big picture leading from small but important factors. each step to be reviewed with actual database and mapping factors to each others. it will shaky at start but in long term will help company to grow and create strong funnel

After assessing the forecasting process, define clear objectives that align with your business strategy. It's important to identify not just common KPIs like forecast accuracy and win rate, but also to address often overlooked blind spots such as forecast bias and pipeline velocity. Also, consider market volatility and set realistic time frames to truly reflect the sales cycle and meet decision-making needs.

Objectives and metrics are the road map to your goals. When you have clearly outlined these you know where you are going. You understand what is working and what what is not. By having these figures you can make better decisions on what to do to move the needle.

Always remember: garbage in, garbage out. This is data entry and analytics 101. When you have forecasting data in place you can quickly identify where you are lacking in the business for either location or product sales. This will highlight weak or under-served areas for improvement.

The final step to future proof any process is continuous monitoring and improvement (feedback and assessment). Regularly comparing sales data and forecasts against actual results and KPIs. Feedback from the sales team and other stakeholders is critical, as it helps adjust forecasts to reflect real-world conditions and correct any biases identified in step 1. It's an ever evolving process so stay agile by incorporating trends and feedback to enhance accuracy and relevance.

Education is key. Our forecasting model is in our CRM and getting reps to clean up their pipeline is a challenge. But having continual education or semi-annual webinars will help get people to do what they need to do to make the analyzing easier.