Sales Forecasting Methods


Mapa Mental sobre Sales Forecasting Methods, creado por Steven Valdez el 11/09/2018.
Steven Valdez
Mind Map by Steven Valdez, updated more than 1 year ago
Steven Valdez
Created by Steven Valdez over 5 years ago

Resource summary

Sales Forecasting Methods
  1. Quantitatives
    1. Trend Analysis
      1. A method for forecasting sales data when a definite upward or downward pattern exists.
      2. Seasonal Adjustment
        1. Seasonal models take into account the variation of demand from season to season. Adjustments can be made to a baseline forecast to predict the impact of a seasonal demand.
        2. Decomposition
          1. A method of forecasting where time series data are separated into up to three components: trend, seasonal, and cyclical
          2. Graphical Methods
            1. Plotting information in a graphical form. It is relatively easy to convert a spreadsheet into a graph that conveys the information in a visual manner
            2. Econometric Modeling
              1. A set of equations intended to be used simultaneously to capture the way in which dependent and independent variables are interrelated.
              2. Life Cycle Modeling
                1. A quantitative forecasting technique based on applying past patterns of demand data covering introduction, growth, maturity, saturation, and decline of similar products to a new product family”
                2. Based on subjective information such as intuition or informed opinion
                3. Qualitatives
                  1. Expert Opinion
                    1. Experts give their views on current trends & likely future developments that may have an impact on the general economy or a specific industry or market.
                    2. Market Research
                      1. Conducted thru surveys
                      2. Focus Groups
                        1. Consists of panels of customers who are asked to provide their opinions about a product or service
                        2. Historical Analogy
                          1. The sale of new product or service is compared with the sales of a previous similar product or service.
                          2. Delphi Method
                            1. The sale of new product or service is compared with the sales of a previous similar product or service.
                            2. Panel Consensus
                              1. A group of people provides opinion about the future & a facilitator brings the group to a consensus
                              2. Based on historical information that is usually available within the company
                              3. Referencias:
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