All language subtitles for 27 - AvgTimetoCloseDeal V1 - lang_en

So to calculate the average time to close a deal,

we follow two steps.

First, we're going to go ahead and calculate

the total number of days for all sales combined.

So, we have our four accounts here,

and each of these numbers tells you the number of days from

first contact by the sales team member to closing the deal with Costco.

So, for instance, this one took 150 days,

so approximately five months.

This one took six months and so on and so forth.

So, we add these up so that this just be the sum of these days for each of your accounts.

We got 720.

Number of accounts is just these accounts that we have,

and so I could just hard code for in here,

but I just want to show you a little trick.

So, if you do COUNTA,

it tells you if they're not empty.

You can actually just select the cells you want

and it will give you the count because these are the number of rows that I'm counting.

To get the average time to close,

you just take the total number of days you took

for all the sales combined divided by the number of accounts,

and that gives you a 180 days.

So on average, it took a 180 days to close the deals in this dataset.