A sales forecast consists of estimating in a future period how much will be sold, either in terms of volume (units) or value. It can be done for a set of individual products or at an aggregate level such as at the brand or category level; it can also be done by the customer and by the customer branch, and the geographic component can be included.
When might you need a sales forecast?
A sales forecast may be necessary when:
- You need to check if the planning and/or sales budgets are overestimated or underestimated
- You want to strengthen the way you forecast sales using machine learning methods or advanced statistics
- You are experiencing problems with inventory management, cash flow, or hiring
- You are going to request a loan, and you need to estimate what the expected income will be in the following period
The benefits of obtaining a sales forecasts could be:
- Help optimize the production and supply chain
- Increase sales
- Know sales's behavior (seasonality and trends)
- Improve inventory management
Why choose our automated reporting service?
We offer a comprehensive service that can include:
- More than six years of experience in advanced analytics, time-series statistical techniques, and machine learning.
- We give codes so you can make modifications. If you don't have a team that knows these programming languages, we make an executable file. This way you don't have to worry about codes, just by putting the data the model needs in the supplies folder you can get results.