Operations with Sean Lane cover image

Operations with Sean Lane

How to Forecast within 5% with Paul Shea and Chris Lowry

Apr 5, 2024
Paul Shea, an expert in operational strategies, teams up with Chris Lowry, a seasoned professional in sales forecasting, to unpack the intricacies of accurate forecasting. They discuss the crawl-walk-run approach to building effective forecasting models and tackle the often tricky conversations between Sales and Operations. The duo also reflects on the vital balance of qualitative insights and quantitative data in dynamic markets, emphasizing the importance of clean data management and collaboration to achieve forecasts within 5% accuracy.
41:03

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Quick takeaways

  • Sales forecasting is essential for a company's operating rhythm, significantly impacting investment confidence and operational effectiveness.
  • Building an effective forecasting model requires balancing data integrity with qualitative insights, fostering collaboration between sales and operations teams.

Deep dives

The Importance of Sales Forecasting

Sales forecasting is not merely about predicting numbers but is critical to the overall operating rhythm of a company. A well-structured forecasting process allows businesses to invest and grow confidently, whereas poor forecasting leads to mistrust and failure. The episode highlights how consistent achievement of sales numbers enhances a company's credibility and operational effectiveness. Insights from industry professionals emphasize that accurate forecasting increases confidence among founders and revenue leaders, contributing to better decision-making.

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