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Updated in [July 25th, 2023]
Managers rely on sales forecasts from their reps to estimate how much business their team will close. Directors use team forecasts to predict department sales, while the VP of Sales uses department forecasts to forecast the organization's sales. These reports are typically distributed to company executives, board members, and/or stockholders. Sales forecasting adds value to a company's bottom line by helping with budgeting for capacity plans and hiring, territory and quota planning, material purchases and capacity planning, and channel and partner strategies. It also assists with shipping products, paying for marketing, and hiring employees. Accurate sales forecasting results in a well-oiled machine that meets current and future customer demand, and ensures that sales revenue arrives within the estimated time frame. Despite its importance, many organizations still rely on antiquated methods that result in inaccurate forecasts. This course provides a complete guide to sales forecasting for beginners, helping them understand the basics and develop the skills needed to create accurate forecasts.
Course Syllabus
Introduction
Why Accurate Sales Forecasting is important
Sales Forecasting Methods with Examples
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