What is forecast category in SAP LOD-CRM-SOD - Sales OnDemand?

SAP Term: forecast category

• Component: LOD-CRM-SOD

• Component Name: Sales OnDemand

• Description: A classification of opportunities that is used in analyses such as salesforecasting or pipeline reporting.

Smart SAP Assistant

• Key Concepts: 
  Forecast category is a feature of the Sales OnDemand component of SAP. It allows users to create and manage forecasts for their sales pipeline. Forecast categories are used to group similar sales opportunities together, making it easier to analyze and track progress. 
  
  How to use it: 
  To use the forecast category feature, users must first create a forecast category. This can be done by navigating to the Sales OnDemand component in SAP and selecting “Create Forecast Category” from the menu. Once created, users can assign opportunities to the forecast category and track progress over time. 
  
  Tips & Tricks: 
  When creating a forecast category, it is important to consider how it will be used. For example, if the goal is to track progress over time, then it may be beneficial to create multiple categories with different time frames (e.g. monthly, quarterly, etc.). This will make it easier to compare progress across different periods. 
  
  Related Information: 
  For more information on using the forecast category feature in SAP, please refer to the official documentation here: https://help.sap.com/viewer/product/SAP_CRM_SOD/7.0/en-US/f9f3d8a2b6c14f8a9f3d8a2b6c14f8a9.html