Who's this for:
Where:
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Deals > Forecast > Trends
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Deals > Forecast > click a forecast category > Forecast tab
Note
Working with Gong Forecast requires a Forecast seat.
Use our projection tool to forecast more accurately and understand where you'll land this month or quarter, or in a future period. While for forecasting you need to know your pipeline inside out, with projection, you can also use your historical sales to call a more precise number.
The tool enables you to project where you'll land based on:
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Actual sales - What you've already got in the bag, which is the sum of all qualifying closed-won deals, according to the target attainment defined in your Forecast settings.
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Weighted pipeline - We look at the comparative time in the quarter you are in, and give the deals in each stage of your current pipeline weight based on the historical win rate for the same time and stage. Read more about how we calculate win rates below.
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Expected deals - How much you can anticipate from newly-created, pulled-in, or pushed-in deals, based on the historical win rate for such deals in the chosen period. Read more about expected deals below.
After you select a previous period to base the projection on, we use the historical win rates to calculate how much you're likely to close.
Actual sales + Weighted pipeline by stage + Expected pipeline = Projection
Furthermore, each projection takes into account the following factors:
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Line of business - our calculations are based on actual sales, the current pipeline, and historical data for the selected line of business.
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Close date - the current pipeline includes deals that are set to close in the selected period only.
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Team or individual - the current pipeline includes deals that are owned by the selected team or individual only.
Drill into how we came to the projection number, based on the selected period.
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In the projection widget, click See the math.
The side panel opens, showing the actual sales, weighted pipeline, and expected deals that go into the projected number.
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Select a different historical period to change the projection according to a different sales cycle.
Weighted pipeline is calculated as follows:
The historical win rate for each stage is calculated for the same time in period:
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We divide each quarter into 3 parts: month 1, month 2, month 3, and note which part of the current quarter you are in.
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We compare the current pipeline per stage to the win rate* of the equivalent part of the historical quarter.
* Win rate means how many open deals were closed-won by end of quarter.
Expected deals are deals that are created throughout the quarter, meaning they could be deals that are:
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Newly created
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Pulled in
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Pushed in (if viewing a future period - coming soon!)
Expected deals are calculated as follows:
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Expected deals amount: The average value of expected deals for the historical period.
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Expected deals win rate: The % of expected deals that were closed-won by end of quarter.
Note
When selecting more than 1 period to base the projection on (i.e. more than 1 quarter), the number of deals is also averaged.
See the trend for a selected period.
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Go to Deals > Forecast > Trends, and in the trend chart, turn on Projection.
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