10 Sales metrics that can change your business forever

Data is the biggest asset for any organization. It can be a game changer if analyzed and utilized properly. With data growing exponentially with every digital device producing loads of data and almost all industries switching to data-driven solutions, engineers often feel overwhelmed in choosing the right data and metrics. Here are my best picks that could help your organization to make strategic decisions.

1. Projection:

Projection and forecasting are often overlooked, as most of the output is incorrect, which frustrates stakeholders and leads them to decide and drop the metrics. One of the main reasons this metric fails to deliver is that engineers used overly complicated models, and in most cases, the results are overfitted. A simple solution could be using a simple statistics formula. Here is an example of a sales projection.

YTD sales projection= ((avg of 4 weeks) * (Total week — current week)) + YTD sales
Let's assume we are in 5th week of the year and let's take some random sales value.
Avg of 4 weeks = $2,500 (avg of 2,3,4,5 week)
Total week = 52 (Total week in year 52 or 53 depending on your business calendar)
Current week = 5 (We assumed 5th week)
YTD sales = $12,500
So the formula will look like this
=((avg of 4 weeks) * (Total week - current week)) + YTD sales…