In spite of the use of AI- driven forecasting devices and suites, sales leaders often make mistakes when it comes to their part. Often this is not due to a lack of understanding of the technology, but due to errors of human ego. Some fatal errors have been identified that need to be avoided. One of them is purposefully not declaring the bad news. This leads to hoping for success, when objectively speaking none exists. Another is the confusion arising from a different set of data warehousing done. A number of misleading definitions are used to ride over the bad times. Sales teams also often fail at forecasting, as they do not ask the right tough questions. To fix this, adjustable algorithms need to be used up. Business intelligence needs to be detected on each of the probabilities. Time must be afforded to each set. Similar tracking must be done to know who is doing well in the present system. Finally, those forecasting accurately, need to be rewarded.

Source:https://hbr.org/2019/03/sales-teams-arent-great-at-forecasting-heres-how-to-fix-that

Uploaded Date:13 May 2019