Now, unless you’re an Excel wizz, all that effort doesn’t sound like fun. A Better Way to Forecast Sales Than in Excel This way, you know where to focus to increase your sales and hit your targets. That leaves you with no way to improve projected performance before it’s too late.Ī more practical approach is to look at the sales cycle and how deals at different stages impact revenue. It gives you a total sales number to expect but no insight into how individual deals impact this number. Inflexible and unrealisticĪnother problem with forecasting in Excel is that, despite its mathematical accuracy, it doesn’t take into account the sales process at all. You’ll probably need to set up reminders in another app, too, to make sure they don’t forget to do it regularly.Īnd all that assuming you’re comfortable enough with creating spreadsheets in Excel and using other tools to get sales data in the first place. When your business grows and you delegate the task to an employee, you have to train them to keep the process up and running. You’ll have to come up with your own process of updating and keeping track of your sales forecasts in Excel. And you still won’t have real-time data between date points.
To keep the forecast up-to-date, you have to go in the file and enter any new data on a regular basis (every month or day, depending on the granularity you’re after).
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