What is quotation funnel analysis in SAP CRM-ANA - CRM Analytics?

SAP Term: quotation funnel analysis

• Component: CRM-ANA

• Component Name: CRM Analytics

• Description: An evaluation that displays the sales documents that originated, either directly or indirectly, from a quotation. A quotation analysis could be sales orders or contracts that were created as follow-on documents from a quotation.

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• Key Concepts: 
  Quotation funnel analysis is a tool within the SAP CRM Analytics component that helps businesses analyze the progress of their sales quotations. It provides an overview of the sales process, from the initial quotation to the final sale. The analysis helps businesses identify areas of improvement in their sales process and optimize their sales performance. 
  
  How to use it: 
  To use quotation funnel analysis, businesses must first define their sales process. This includes defining the stages of the process, such as initial contact, quotation, negotiation, and sale. Once the stages are defined, businesses can then use the analysis to track the progress of each quotation through each stage. The analysis will provide an overview of how many quotations are in each stage and how long they have been there. 
  
  Tips & Tricks: 
  When using quotation funnel analysis, it is important to ensure that all stages of the sales process are accurately defined. This will ensure that the analysis is accurate and provides an accurate overview of the sales process. Additionally, businesses should regularly review their sales process and adjust their stages as needed to ensure that they are accurately tracking their progress. 
  
  Related Information: 
  Quotation funnel analysis is part of SAP CRM Analytics, which provides businesses with a comprehensive suite of analytics tools to help them better understand their customers and optimize their sales performance. Other tools within SAP CRM Analytics include customer segmentation, customer lifetime value analysis, and customer journey analytics.