What happens to your business if you don’t have an accurate read on where your sales are headed? If you underestimate sales, you might be stuck behind the curve, with people wanting your product or service and you are unable to provide it to them. But if you think you’ll make more sales than you do, you’ll have excess inventory and be devoting too many resources to the wrong places.
How then do you get better at figuring out where your sales are headed, and use those numbers to accurately determine a solid planning path for your company? You can start by opening up your forecasting data gathering model to more than just one department. You need input from every department.
You also cannot rely just on the past to determine your sales future. You have to use all data at your fingertips, including current sales figures.
What else can help and what should you do? This infographic can help.
Infographic courtesy of Salesforce