Marketing & PR Firms - Technological Factors Linked with Sales Forecasting
Saturday, November 23, 2013
When businesses manufacture products, they sometimes overestimate or underestimate how many products their consumers will need. When businesses overestimate, they will have too many product units in stock and may have to slash prices to move the products. If the business manufactures too few products, it will lose out on opportunities to make a sale. Sales forecasts take time and new businesses can struggle to perform accurate sales forecasts because they do not have as much accumulated data for their sales forecasts.
Databases
Databases allow businesses to efficiently accumulate and organize information that helps them understand sales trends in their markets. When staff members input sales data, sales professionals can perform calculations using Excel and Visual Basic programs, allowing businesses to immediately process very complex sales data. Graphic software can convert sales data into sales forecast graphs, such as bar graphs and line graphs, letting other sales professionals easily assess market changes.
Cloud Computing
When businesses use cloud computing, they distribute information across several web servers or computers instead of placing the information on one server. Cloud computing helps with sales forecasts by allowing sales professionals to upload new information to a decentralized database. By uploading sales figures and customer data, sales professionals can create estimated projections and can also analyze the data. Some sales programs are designed to specifically integrate into the cloud computing, aiding businesses in collecting data, creating sales forecasts and managing the overall sales process, known as the sales pipeline or funnel.
Sales Force Automation
Sales force automation, SFA, tools can work with cloud computing to let sales professionals efficiently update information on sales contracts, track the performance of sales teams and communicate updates on customers as soon as the customer makes a decision. SFA tools also let sales professionals upload information on new sales leads so that businesses do not lose out on sales opportunities. With SFA tools, sales professionals can perform the necessary analysis needed to create accurate sales forecasts.
Planning Software
Planning software can help businesses respond to sales forecasts. Using historical consumer data, businesses can find sales teams that are available and close to sales opportunities and can send these sales teams to perform sales calls. Planning software can also integrate other functions, such as support manufacturing and distribution groups into the sales forecast data so that businesses can immediately respond to changing market dynamics and maximize profit.
Tags:
Marketing, Marketing amp; PR Firms
Databases
Databases allow businesses to efficiently accumulate and organize information that helps them understand sales trends in their markets. When staff members input sales data, sales professionals can perform calculations using Excel and Visual Basic programs, allowing businesses to immediately process very complex sales data. Graphic software can convert sales data into sales forecast graphs, such as bar graphs and line graphs, letting other sales professionals easily assess market changes.
Cloud Computing
When businesses use cloud computing, they distribute information across several web servers or computers instead of placing the information on one server. Cloud computing helps with sales forecasts by allowing sales professionals to upload new information to a decentralized database. By uploading sales figures and customer data, sales professionals can create estimated projections and can also analyze the data. Some sales programs are designed to specifically integrate into the cloud computing, aiding businesses in collecting data, creating sales forecasts and managing the overall sales process, known as the sales pipeline or funnel.
Sales Force Automation
Sales force automation, SFA, tools can work with cloud computing to let sales professionals efficiently update information on sales contracts, track the performance of sales teams and communicate updates on customers as soon as the customer makes a decision. SFA tools also let sales professionals upload information on new sales leads so that businesses do not lose out on sales opportunities. With SFA tools, sales professionals can perform the necessary analysis needed to create accurate sales forecasts.
Planning Software
Planning software can help businesses respond to sales forecasts. Using historical consumer data, businesses can find sales teams that are available and close to sales opportunities and can send these sales teams to perform sales calls. Planning software can also integrate other functions, such as support manufacturing and distribution groups into the sales forecast data so that businesses can immediately respond to changing market dynamics and maximize profit.
