What is sales cycle duration in SAP CRM-ANA - CRM Analytics?

SAP Term: sales cycle duration

• Component: CRM-ANA

• Component Name: CRM Analytics

• Description: A time value that indicates how long a sales cycle lasts from the first sales stage to the final sales stage inclusive.

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• Key Concepts: 
  Sales cycle duration is a metric used in CRM Analytics to measure the amount of time it takes for a sales cycle to be completed. It is calculated by subtracting the date of the first contact with a customer from the date of the last contact with that customer. This metric is useful for understanding how long it takes for a sales cycle to be completed and can help identify areas where improvements can be made. 
  
  How to use it: 
  Sales cycle duration can be used to measure the efficiency of a sales process. It can be used to identify areas where improvements can be made, such as reducing the amount of time it takes for a customer to complete a purchase. Additionally, it can be used to compare different sales cycles and determine which ones are more efficient. 
  
  Tips & Tricks: 
  When measuring sales cycle duration, it is important to consider all aspects of the sales process, including customer service, marketing, and product delivery. Additionally, it is important to consider any delays that may have occurred during the sales process, such as delays in product delivery or customer service issues. 
  
  Related Information: 
  Sales cycle duration is closely related to other metrics such as customer lifetime value and customer acquisition cost. Additionally, it is important to consider other factors such as customer satisfaction when measuring sales cycle duration.