Sales
Opportunity Management
Definition of
Opportunity management refers to the process of identifying, evaluating, and prioritizing potential business opportunities. It involves analyzing the market, identifying customer needs, and determining the feasibility of potential projects. Effective opportunity management helps businesses make informed decisions about which opportunities to pursue and allocate resources to, in order to maximize growth and profitability. For example, a software development company might use opportunity management to identify the potential for a new product, evaluate market demand, and determine if it aligns with their business goals. A sales team might use opportunity management to prioritize leads based on their potential value, and allocate their time and resources accordingly. Overall, opportunity management is an essential part of any business strategy, helping businesses to stay competitive and achieve success.
