Overview of the Wireless Telecommunication Industry in the US
Over the past five years, the wireless telecommunication industry benefited from the rapid development and popularity of mobile devices. The popularity of smartphones is one of the key contributors to the market’s growth. Households have chosen to disconnect their landlines to cut costs during difficult economic times, suggesting that consumers no longer view mobile device purchases as discretionary. The share of households with only wireless telephone connections has increased markedly since 2014. As a result, revenues are expected to grow over the coming years.
Even though significant growth is expected in the wireless telecommunication industry, certain challenges including dynamic growth of the mobile industry, over-the-top content (OTT) providers, privacy, security, and compliance issues, and heavy competition in the rush to 5G technology will influence the growth of the industry.
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Why is the Sales Forecast Model Important for Businesses?
A sales forecast is an evaluation of the sales volume that a company can anticipate within the planned period. A sales forecast model not only forecasts sales, but it also matches all possibilities with marketing efforts. By using a sales forecast template, a business can determine its share in the marketplace under a defined future. Thus, a sales forecast model shows the probable volume of sales.
By employing a sales forecast template, you get a clear picture of how much new revenue your company will generate in a given period. It provides you with the right insights and encourages you to take the necessary steps towards continuous growth.
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About the Client
The client is a renowned player in the wireless telecommunication industry in the US. The company has always strived to set its mark in the telecommunication industry by catering to the diverse needs of its vast customer base and developing as many specific wireless telecommunication products as possible.
The client, a renowned wireless telecommunication provider, wanted to obtain an accurate view of the sales volume and needed to make informed decisions. By leveraging Quantzig’s sales forecast template, the wireless telecommunication wanted to gain adequate insights into the sales performance and visualize their targets and achievements. The primary objective of the wireless telecommunication provider was to calculate the profits, take decisions on investments, and launch new services for the customers.
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The sales forecast solution offered by Quantzig supported the wireless telecommunication provider in measuring the overall sales volume and understanding the current trends influencing the market. Based on the sales data, the client was able to monitor sales targets easily and devise a powerful sales strategy to accomplish the desired goals. In addition, the sales forecast template-assisted the telecommunication network provider to understand the preferences of the consumers and aggregate the forecasts based on the sales interactions with customers. This enabled the wireless telecommunication provider to streamline its market efforts and improve its overall revenue by 25%.