What is a Sales Forecast?

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A forecast is a company's projection of how many sales, customers or demand for a product or service it will have in the near future. It is generally done on a monthly basis, but there may also be weekly, half-yearly or annual forecasts.

What is a sales forecast for?
Mainly, to estimate how much income a company can anticipate for a given period, and to check if this forecast corresponds to the expectations of growth and competitiveness. If not, it will be necessary to make bangladesh phone number list to the strategy to ensure that the objectives are met.
On the other hand, the Forecast also serves to predict demand and to be able to anticipate production that adequately covers it. That is, to avoid running out of product, raw material or workforce in the face of excessive demand.
In some cases, a Forecast is also made before the launch of a new product or service. In this way, the commercial terrain is probed to predict the general result.


How to make a sales forecast?
The sales forecast is an estimated projection and although it can accurately anticipate the amount of sales for a period when done well, it is normal for the forecast figure and the actual sales figure to differ slightly.
We always seek to ensure that these differences are positive, that is, more sales than were estimated, so it is advisable to maintain a realistic and moderate forecast.
The more circumstantial and statistical variables are considered in a forecast, the more accurate its forecast will be. In addition, it is recommended that all departments involved in the sales process participate in it. Among the factors that are usually considered are:

The sales history
External demand data
Average spending per customer
Marketing actions
Sales Department Estimates
Customer recurrence
Obviously, the factors to consider in a Forecast will vary widely depending on the type of business. The sales forecast for a printing equipment rental company is not the same as that for an online clothing store.