Regression Analysis in Sales Forecasting

Regression Analysis
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Regression Analysis > Best Practices

William OBrien, United States
I need assistance in the use of regression analysis in sales forecasting. What are some common variables used and how are they assigned? Has anybody been 90%+ successful? What industry is more conducive? B2B? (...) Read more? Sign up for free

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  Bernard van Zyl, Entrepreneur, South Africa
 

Sales Forecasting System

When salesmen work on their market and give feedback on the status of their sales process and the chances of closing the deal, it relies heavily on the perception of the salesman and the pressure he is under to make the sale.
There is often inaccurate feedback on IF a sale will materialize and WHEN a sale will be closed.
For cash flow planning we need an unbiased and more accurate mechanism to determine the chance (%) of closing each deal. It may be based on the adopted sales process, where a predefined set of weights can be given to certain questions to be answered.
Our sales projects are relatively large ($100,000) and may take from 1 to 4 years before the sale is closed.
What mechanisms for accurate measurement of such opportunities are available?

 
More on Regression Analysis
Summary
Forum
🔥How to Perform a Regression Analysis. Main Steps
Explanation of Regression Formula
Difference Between a Random Sample and Time Series
Best Practices
🥇Regression Analysis Enables one to Determine the most Critical Predictor Variable
Regression Analysis in Sales Forecasting
🥉Regression Analysis Example
Number of Variables in Regression Analysis?
Theoretical and Statistical Explanations
Special Interest Group Leader

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