I work for a law firm and I want to know whether I can accurately predict our future revenue based on data I've pulled from our SQL Server database. Here is the information that I know based on some queries:
It takes on average, 333 days from the time we sign up a client until we get a settlement and earn revenue.
I've also calculated the 25th, 50th, and 75th percentile in days to a settlement from the time we sign the client up. Those numbers are 231, 327, and 476.5 respectively.
The average fee for a case is $10,000.
At the 25th percentile and above, we have 894 cases that have been open longer than 231 days and no fee has been earned yet. At the 50th percentile and above we have 707 cases. At the 75th percentile we have 431.
Is it possible to predict, based on those numbers, what our revenue ought to be over the next 30 days? Or another future time period?
If I'm missing data that I need what is it?
I'd really appreciate any help. Thanks!
