Sales forecasting

What is sales forecasting?

Definition of sales forecasting:

Sales forecasting is the process that enables a business to estimate future sales.

Sales forecasting helps companies plan ahead by roughly gauging their future revenue growth, in turn helping them shape their business model.

Typically sales forecasting uses historical data, but if a company only has a small data pool they may include other factors such as wider industry / economic trends.

Related content:

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Rethinking revenue: How to measure sales success – and forecast failure!

Related resources:

The complete guide to sales analytics