For most venues, forecasting revenue feels like trying to hit a moving target. Events change, enquiries come and go, and the data you need to make decisions is scattered across spreadsheets, inboxes, and calendars.
NB: This is an article from iVvy
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Many venue managers say revenue forecasting is one of the hardest parts of the job, not because they lack experience, but because the information they rely on is rarely complete or current.
The good news? With the right structure and tools in place, forecasting can shift from reactive reporting to confident, data-driven planning.
Here’s how to make it happen.
Bring all your data together in one place
Accurate forecasts start with consistent data. If your enquiry, booking, and payment information live in separate systems, your forecast will always be part estimation, part frustration.
Centralising everything in one platform, where your sales, event, and finance data automatically feed into the same system, gives you a single source of truth. It means no more double-handling, no more reconciling multiple reports, and no more guessing which version is the most up to date.
Look beyond confirmed bookings
Most forecasts only account for confirmed revenue, but your enquiries and proposals tell an equally important story.
Tracking enquiry volume, response times, and conversion rates helps you anticipate how much business is likely to convert in the coming weeks or months. For example, if your team typically converts 40% of enquiries, you can project future bookings based on current activity, long before the events are confirmed.
That foresight helps you plan staffing, cash flow, and resource allocation with far greater confidence.
Use real-time reporting, not static spreadsheets
Traditional forecasting often means exporting data into Excel and manually updating figures. The problem? The moment you finish, something has already changed.
Real-time reporting solves that. Dashboards update automatically as new bookings are created, modified, or cancelled, helping you stay current and spot trends early. Whether you’re comparing spaces, properties, or salespeople, live reports let you see exactly where revenue stands and what needs attention.
