Regression Analysis in Sales Forecasting

Regression Analysis
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William OBrien
United States

Regression Analysis in Sales Forecasting

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?

  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
👀Regression Analysis in Sales Forecasting
Explanation of Regression Formula
Number of Variables in Regression Analysis?
Difference Between a Random Sample and Time Series
Theoretical and Statistical Explanations
Best Practices
Regression Analysis Enables one to Determine the most Critical Predictor Variable
Regression Analysis Example
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