Tag: Sales analytics

sales forecasting

3 Essential Sales Forecasting Methods That Can Accelerate Your Sales Process

Sales forecasting is one of the important processes that help businesses in better decision making and in predicting long term and short-term business performances. Sales forecasting affects several business areas such as sales operations, marketing strategies and budget allocations. But many sales leaders struggle when it comes to the implementation of effective sales techniques. Inaccurate sales forecasting fails to guide business pipeline management and has dire consequences on different levels of business operations. Overestimating sales may lead to overspend and underestimating sales might result in inefficient order management. Therefore, it is crucial for businesses to get their sales forecasting techniques correct. Here we have discussed in detail some of the essential sales forecasting methods that can help companies accelerate their sales processes.

Sales forecasting offers actionable insights into how a company should manage its workforce and cash flows. Want to know how? Get in touch with our experts right away.

Sales Forecasting Methods

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Technique #1: Opportunity forecasting

This sales forecasting method helps companies to estimate the probabilities of a deal getting close to conversion. Opportunity forecasting can help best when a company is trying to gain an objective understanding of its pipeline stages. Also, this sales forecasting method is helpful when you want to gauge your sales team performance and analyze areas where improvement is needed to move a prospect down the pipeline. To adopt this sales forecasting technique, it is important for companies to understand and analyze their sales history. Understanding the rates of success at every stage of the sales cycle is required to derive an accurate estimate of future results.

Technique #2: Length of the sales cycle

This approach of sales forecasting helps to make assessments based on the age of the deal rather than analyzing success rates at every stage It is very helpful in predicting when a deal is likely to close. Companies can use this technique to learn in detail about different types of deals in their sales pipeline. The length of the sales cycle is not strictly tied to defined categories. So, it can help in creating algorithms based on different types of deals efficiently. Additionally, it can help to estimate numbers for the average repeat customers or leads.

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Technique #3: Regression analysis

Regression analysis is one of the most preferred and smart choices for sales forecasting. This technique can help companies to perform in-depth quantitative analysis of factors that might be affecting their sales processes. This method can lead to success only if you have the necessary capabilities and domain knowledge to understand the factors that impact the sales performance of your company.

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Sharpen Your Company’s Salesforce Effectiveness in 4 Simple Ways

The gaps in understanding what makes salesforce effectiveness successful, researchers are now increasingly trying to quantify the factors that go into turning a motivated sales team into a task force that is capable of making an effective impact in their market. As a matter of fact, it might prove to be difficult for any new business to hit the ground running. Sales success is largely dependent on continual improvement. Conducting honest program evaluations, targeting specific strategy areas to augment, developing specific improvement programs, and tracking progress in following through with these programs will create a cycle that will consequently lead to a constantly improving sales team capable of finding success in today’s dynamic market. Here are some vital strategies to turbocharge your companies’ salesforce effectiveness.

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Ways to improve salesforce effectiveness

Clearly define the expected performance

When companies clearly define performance to their sales teams, it helps them understand which products and customer segments create the most value. Having a clear idea about which products and customers create the most value helps businesses identify “where” to direct the efforts of the sales team and how to measure their performance, thereby enhancing the salesforce effectiveness.

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Top 5 Marketing and Sales Analytics that Managers Must Consider

Market size analytics

Having a fair idea about the market size and potential is integral to business. It involves identifying how large the market is for your products and services, and whether there is sufficient growth potential. The size of the market is measured in terms of volume (how many units sold), value (money spent in that market) or frequency (how often a product or service is sold). Data can be collected from government data sources, trade association data, financial data from competitors, and customer surveys. Using the right sales analytics tools help businesses estimate their market size accurately and the sales volume generated from this market.Contact US

Unmet needs analytics

The primary aim of any business is to effectively meet the needs of their target customers. Using sales analytic metrics helps businesses to uncover if there are any unmet needs around your product or service or within your market which you could meet to increase customer satisfaction and revenue. Using various sales analytics tools and other sources including product reviews, qualitative surveys, focus groups,  and interviews, companies can easily identify the unmet needs of their customers.

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3 Benefits of a Sales Analysis Report That Every Sales Manager Should Know

Importance of Sales Analysis

How big a role does sales play in your present company? Most think of upbeat telephonic conversations, long lunches, and game-time when it comes to sales. But with the rise of analytics, the notion of sales analysis is witnessing a paradigm shift. In fact, studies have shown that the companies who invest in sales analysis report can boost their returns by more than 15-20%.

Unfortunately, the sales team in any company will always have too much data to analyze and they often struggle when it comes to developing strategies to boost sales and profits. It is in this context that the importance of a sales analysis report can be realized.

A sales analysis report empowers businesses to analyze sales by breaking it into comprehensible piecesContact US to examine improvement areas. Get in touch with our experts to improve your capability to do so.

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5 Metrics That Will Help You Pump-up Your Sales Analytics

Marketing and sales analytics play a major role in unlocking commercially relevant insights, improve brand perception, and increase revenue and profitability for your company. That’s not all, having the right analytics and sales metric in place will also help you uncover new markets, new audience niches, and areas of development for the future. So, what exactly is sales analytics? In simple terms, sales analytics is the practice of generating insights from sales data, trends, and sales metrics to set targets and forecast future sales performance. In today’s fast-paced environment, the sales team has a wide range of activities to operate and focus on. A well-defined sales analytics strategy provides your team with focus and clarity. Monitoring sales analytics in the form of KPI metrics helps increase your performance, optimize sales activities, and improve accountability. In order to establish a successful analytics program, companies must decide which sales metrics will inspire action and equip tRequest Solution Demoheir team with focus. Here are some of the top sales metrics that you must consider tracking:

Sell through rate

Sell through rate measures the number of goods that have been sold in a month against the amount of inventory that has been shipped to you by the manufacturer. This is an important retail sales metrics as it is a great way to determine the efficiency of your supply chain. Companies must always ensure that they have a high sell-through rate, and failing to do that could cost them more for the shelf-space occupied by the products. Keeping a track of the sell-through metrics is an important way for companies to determine which products are fast-movers and which ones are unpopular and need to be revamped or discarded.

Cannibalization rate

This sales metrics measures the impact of a new product on the sales revenue of existing products. If you undertake a keen observation of your sales analytics, it often shows that as your business releases new products, attention and demand for existing products tend to decrease. One of the main aims of most organizations is to constantly innovate themselves and provide new offerings to their customers. However, new launches aren’t always risk-free. This can be particularly in cases where new and existing products have different, or even competing value propositions.

Sales target

Sales target is one of the key metrics used in sales analytics. This KPI measures current sales revenue and compares that to a target or past performance. Measuring sales performance against the targets is a core tenet of any sales management strategy and is instrumental in creating a data-driven culture. Companies must ensure that the sales target is visible to the entire team. This will help the team easily identify gaps in the current performance compared to the target.

Lead conversion rate

This metric measures the efficiency of your sales team at converting leads into new customers. Lead conversion metrics play a vital role in aligning the sales and marketing teams. This is because both these teams will use these metrics to determine the quality of the leads. The process for generating leads is the responsibility of the marketing team. Once marketing qualifies those leads, it’s the responsibility of sales to convert those leads into paying customers.

Quote to close

Quote to close is an excellent metric for sales analytics as it depicts how effective your team is at closing a deal. This sales metrics measures the number of prospects engaged by your sales team compared to the number of deals closed. This conversion ratio determines the effectiveness of the company’s sales funnel.


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Financial Service Sector market analysis – How sales forecasting solutions helped a financial service firm to better manage their inventory and stock

QZ PR templateLONDON: Quantzig, a global analytics services provider, has recently completed their latest sales forecasting study for a financial service client. The financial services industry consists of several organizations including consumer finance firms, hedge funds, insurance companies, commercial and investment banks, and consumer finance firms. These firms help in managing money and another asset for corporations as well as individuals. Their services are primarily related to asset management, investments, accounting, and foreign exchange.

“The sales forecasting solution offered by Quantzig helped the financial service firm to bring about noticeable changes in accuracy by enhancing product development timing to improve sales.” says an industry expert from Quantzig.

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The sales forecasting solution offered by Quantzig helped the client to bridge the service delivery gaps. Furthermore, the solution also helped the company in better managing its inventory and avoid stock-outs and overstock situations. It also assisted the company to anticipate future sales and develop strategies to improve revenue.

Additional Benefits of the Sales Forecasting Solution

  • Enhance product development timing to improve sales
  • Gain relevant market knowledge to devise strategies that would improve the overall accuracy of operations
  • Explore possibilities to increase net income and revenue
  • To know more, request a proposal

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Quantzig’s Sales Forecasting Solution Helps a Renowned Telecommunication Network Services Provider Generate Revenue by 10%-15%

The client- A renowned telecommunication network services provider

Area of engagement- Sales forecast

The ongoing innovations and developments are compelling the telecommunication network industry to improve their network efficiency and offer expanded services to the customers. The industry at large will witness a stipulated growth owing to the intense market competition and rising investments in new telecommunication technologies such as wireless communication and satellite. In addition, the growing concern for affordability in the services while maintaining the service quality is necessitating businesses to re-define their existing service architecture and enhance their service offerings. Along with the conventional factors, the rising number of internet users worldwide will fuel the growth of the telecommunication network space.

Some of the factors that may curtail the growth of the telecommunication network include:

  • Higher levels of connectivity: Today, with the relentless growth in technology, IoT is slowly paving its way into the telecommunication network space. It is predicted that the number of connected devices is going to reach 21 billion and to sustain the growth of the technology, telecommunication network providers should scale their levels of connectivity. Moreover, this places a lot of pressure on the network providers to streamline their technical capabilities to meet the growing demand.
  • Competition from other OTT services: It is estimated that approximately 2.5 billion people worldwide rely on messaging apps as compared to the conventional text services offered by the telecom This shows a radical decline in the Average Revenue Per User, where the text services are expected to die out completely. The growing presence of numerous OTT service providers is compelling telecommunication network providers to invest highly in innovations to scale their service offerings.

To address such challenges and accurately forecast the sales, leading telecommunication network providers are augmenting the need for a sales forecast solution. Sales forecast helps businesses gain better visibility into the real-time sales data and increase sales predictability through fine-tuning the forecast accuracy. In addition, a sales forecast solution can help telecommunication network providers understand the demand for the services, and shape the pricing strategy to develop business efficiency.

The Business Challenge

The client, a renowned telecommunication network provider, wanted to gain an accurate view of the sales and help them make informed decisions. With the help of a sales forecast solution, the telecommunication network provider needed to gain adequate insights into the sales performance and visualize their targets and achievements. The primary objective of the telecommunication network provider was to calculate the profits, take decisions on investments, and launch new services to the customers.

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The Solution Benefits and the Business Impact

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The sales forecast solution offered by Quantzig helped the telecommunication network provider calculate the sales and understand the current trends in the market. Based on the historical sales data, the client was able to monitor the sales target much easier and devise an effective sales strategy to achieve the desired goals. In addition, the telecommunication network provider was able to understand the relative cross-sell and up-sell opportunities to optimize the overall sales performance. Furthermore, the sales forecast solution enabled the client to maximize the opportunity to generate better revenue.

Sales Forecast Solution Predictive Insights

Quantzig’s sales forecast solution assisted the telecommunication network provider to understand the preferences of the customers and aggregate the forecasts based on the sales interactions with customers. The telecommunication network provider was able to streamline their market efforts and improve their overall revenue by 10%-15%.


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Sales Forecasting helps a Financial Services Client Anticipate Future Sales and Devise Strategies to Improve Profit Margins

The client: Financial services client

Area of engagement: Sales forecasting

The financial services industry comprises of several organizations including insurance companies, commercial and investment banks, consumer finance firms, hedge funds, and consumer finance firms. These firms help in managing money for corporations as well as individuals. This industry’s services are primarily related to investments, asset management, accounting, and foreign exchange.

Considering the current market scenario, the financial services industry is undergoing noticeable changes due to the developments in IT. Several new technology-oriented players are increasingly entering the financial services industry. This is the most visible manifestation of the impact that information technology has on the industry. Moreover, such advancements have deepened the financial markets via changes in the business models. Financial services companies are now increasingly focusing on developing enhanced strategies to reshape business portfolios to improve their product and service offerings.

Let’s take a look at the strategic forces that are expected to bring about significant transformations in the financial services industry over the next few years:

  • Emerging Competitors: There is an increase in competition from financial technology companies. Also, several prominent companies are looking at investing in FinTech to achieve maximum benefits. Tech giants like Google and Amazon have already invested in the financial services ecosystem, testing the waters for possible new forays. The rising demand and popularity of FinTech companies have brought about significant disruptions in the functioning of traditional banking systems. This poses a huge challenge for traditional banks owing to the difficulties involved in adjusting to the changes in operations, culture, and other facets of the industry.
  • Data-driven Product Development: Rapid digital and analytical advancements have resulted in the generation of vast amounts of data that offer details on customer preferences and behavior. Technologies like machine learning, artificial intelligence, and customer analytics will help firms drive product development and customer engagement over the next few years. Several financial services companies are also looking at devising new strategies to use their masses of data to gain maximum advantage. Moreover, this provides an excellent opportunity to develop products and services that meet or anticipate customer needs.

The Business Challenge:QZ- Request free proposal

Resilient, transparent, and smooth-functioning financial systems and capital markets contribute to financial stability, job growth, and poverty alleviation.

The client, a leading player in the financial services industry with several business units spread across the globe, was looking at developing appropriate strategic plans by improving their knowledge of the market space. The client wanted to leverage sales forecasting solutions to virtually manage all aspects of their business. Additionally, the financial services provider wanted to gain better insights on future sales and predict revenue and profit.

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The Solution and the Business Impact:

Strategies that we recommend to enhance product development and the overall improve sales performance

The sales forecast solutions offered several insights that helped the client in bridging the service delivery gaps. These solutions also brought about noticeable changes in accuracy by enhancing product development timing to improve sales. Moreover, our solutions were offered based on accurate sales forecast, which helped the company in better managing its inventory and avoid stock-outs and overstock situations. It also provided an opportunity to anticipate future sales and develop strategies to improve revenue.

Sales Forecast Solutions Insights:

Since the financial services industry is proliferating, there is a growing need to stay updated with the recent trends in this market space. Our sales forecast solutions help you gather relevant market knowledge to devise strategies that would improve the overall accuracy of operations. Moreover, our solutions help firms in exploring the possibilities to increase both net income and revenue. Accurate sales forecast solutions assist companies in improving several aspects of the business including better inventory management, achieve a higher OTIF delivery, and manage the entire supply chain across business units.


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Why Use Data Analytics to Improve Sales?

Sales can be considered to be one of the most important channels for profit in an organization. Some of the organizations exhibit such a high level of dependence on sales that a majority of their revenues are generated from sales itself. Traditionally, sales organizations used to look out for the best salesman and motivate them with the best incentive programs to boost sales. However, once organizations reach the saturation point, there’s not much they can do. But that is no longer the case now, as organizations are using data analytics to generate in-depth insights that can help them improve sales. Sales analytics provides a segregated view into sales figures, which allows the sales team to examine what initiatives work and point out areas of improvement. Using a sales analytics software can assist the sales team in the following ways:Free demo

Ease of access

Today, many ERP providers offer cloud solutions to their clients, which can be accessed through any devices. It enables the sales team to attend a meeting with their tablet with accessibility to all sales reports at any time of the day. It allows sales professionals to quickly glance at a data and communicate recent updates to subordinates. With such ease of access, it hastens the communication process and allows for quick decisions to be taken.

Automatic updates

Since ERP vendors are providing data analytics solutions over the cloud, every information and data points are constantly updated. This enables the sales team to view the reports and insights with real-time data. Recent sales analytics software can automatically update and incorporate new features. It allows the sales organization to gather an accurate picture of the current scenario at the time of reporting. It is very common for businessmen to waste long hours in preparing reports a day in advance. Data analytics software eliminates all such problems with automatic data updates without any errors in a presentable format.

Improved visibility

ERP systems can be set up to provide various levels of authority to different persons. For instance, it can give full access to CEOs and CPOs, whereas limit only specific client figures to the individual salesman. Additionally, the software will provide data and insights on a dashboard with a visual representation of the company’s sales performance. Such visual representation tools allow stakeholders to make quick and accurate business decisions.

Sales force transparency

Data analytics and ERP systems give sales professionals a competitive edge in achieving their targets. Sales analytics software can put information on individual customers in hand, so they can be adaptive to identify cross-selling and upselling opportunities. Also, it gives information on the performance of each salesperson to identify their strengths and weaknesses to help them develop their abilities. 


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