6 Shocking Statistics About Sales Forecasting
Healthy forecasts protect enterprises from adverse competitive and market conditions, and position them to adapt, plan, and thrive in the present and future.
A Shocking Look At Sales Forecasting Today
Sales leaders lack confidence in their forecasts, as well as the expertise to improve them. Unformalized forecasting processes are a likely culprit.
- 93 percent of sales leaders are unable to forecast revenue within 5 percent, even with two weeks left in the quarter.
- 67 percent of organizations lack a formalized approach to forecasting altogether.
- 80% of sales orgs DO NOT have a forecast accuracy of greater than 75%.
- 55% of sales leaders do not have high confidence in their forecasting accuracy.
These statistics come from respected research institutions like CSO Insights and Gartner.
The Promise Of Sales Forecasting’s Potential
Aberdeen research emphatically shows that sales forecasting is a problem worth fixing.
- 97% of companies that implemented best-in-class forecasting processes achieved quotas, compared to 55% that did not.
- Companies with accurate forecasts are 10% more likely to grow revenue year-over-year and 2X as likely to be at the top of their field.
How You Can Improve Your Sales Forecasting
Of course, harnessing sales forecasting’s potential is an elaborate process that involves asking the right questions, understanding their answers, and collaboratively developing a process and expertise with other revenue leaders.
Contact us to learn more about how Intangent can help you implement and manage automated sales forecasting as part of a sales performance management solution, schedule a meeting here.