Broad purpose of this article is to explain value of sales Forecasting. Sales forecast is a protrusion of reachable sales revenue, based on traditional sales data, analysis of market surveys and tendencies, and salespersons’ estimates. Also referred to as sales budget, it forms the basis of a business plan because the amount of sales revenue affects practically all facets of a business. Sales Forecasting is accomplishing this of estimating what your business’s sales might be in the future. Sales forecasting is a fundamental piece of business management. Without a solid perception of what your future sales might be, you can’t manage your inventory or your money flow or plan intended for growth. The purpose of sales forecasting should be to provide information that you can use to make intelligent business decisions.
Value of Sales Forecasting
