What is the relevance and availability of historical data?
How much time do you have to perform the analysis?
What is the cost-benefit ratio of forecasting your company’s sales?
After answering these questions, you will have a clearer idea of what you want to achieve and you will be able to choose one of the methods for forecasting sales .
1. Delphi method
If you are wondering “ how to make a sales projection without historical data? ”, the Delphi Method is perfect for you.
Creat. in the 1950s, this method is inspir. by Greek mythology, more specifically, the temple of Delphi. The story goes that people us. to visit the place to seek advice from the priests, who would answer questions in a dubious manner.
How accurate do you expect the sales projection to be?
In the world of sales forecasting, this technique is relatively accurate. Specialists answer questionnaires , and bas. on their answers, new questions are pos.. The information is shar. with the group, which gambling database must reach a consensus on the topic.
When you have little data;
When your product or service does not yet exist on the market.
2. Exponential Smoothing Method
This type of sales forecasting focuses on analyzing historical data for patterns and changes. It is able to identify the rate at which an event occurs and, bas. on the combination of mathematical techniques, make projections. For example, you can find out how fast your customer base is growing or what the purchasing trend is for a particular product.
When to use this sales forecasting method
When you have a lot of data about a product or service;
When relationships and drag and drop never notify trends in your industry are relatively stable.
3. Regression Method
Regression analysis is basically a mathematical equation. Its objective is to make a correlation between variables and find out which one affects the analyz. element in a certain period of time — in our case, sales.
For example, you can relate the ukraine business directory number of call volumes made by sales reps to the number of products sold over the past five years.
