What is sales forecasting?
Sales Forecasting can best be defined as a technique used to determine the direction of future sales trends given certain inputs of historical data. It yields a sales prediction for a future point in time, based on past performance. Simply put, sales forecasting is making an educated guess at what your future sales will look like.
Forecasting also serves as an important benchmark for sales teams needing a long-term operational standpoint.
An Overview of the Sales Forecasting Process:
A data point is selected. In the context of sales, this could be as simple as “what will…