Sales Forecasting Methods

Steven Valdez
Mind Map by , created about 1 year ago

Mapa Mental sobre Sales Forecasting Methods, creado por Steven Valdez el 11/09/2018.

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Steven Valdez
Created by Steven Valdez about 1 year ago
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Sales Forecasting Methods
1 Quantitatives
1.1 Trend Analysis
1.1.1 A method for forecasting sales data when a definite upward or downward pattern exists.
1.2 Seasonal Adjustment
1.2.1 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.
1.3 Decomposition
1.3.1 A method of forecasting where time series data are separated into up to three components: trend, seasonal, and cyclical
1.4 Graphical Methods
1.4.1 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
1.5 Econometric Modeling
1.5.1 A set of equations intended to be used simultaneously to capture the way in which dependent and independent variables are interrelated.
1.6 Life Cycle Modeling
1.6.1 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”
1.7 Based on subjective information such as intuition or informed opinion
2 Qualitatives
2.1 Expert Opinion
2.1.1 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.
2.2 Market Research
2.2.1 Conducted thru surveys
2.3 Focus Groups
2.3.1 Consists of panels of customers who are asked to provide their opinions about a product or service
2.4 Historical Analogy
2.4.1 The sale of new product or service is compared with the sales of a previous similar product or service.
2.5 Delphi Method
2.5.1 The sale of new product or service is compared with the sales of a previous similar product or service.
2.6 Panel Consensus
2.6.1 A group of people provides opinion about the future & a facilitator brings the group to a consensus
2.7 Based on historical information that is usually available within the company
3 Referencias: http://www.apicsforum.com/ebook/quantitative_%2526_qualitative_forecasting_techniques: https://spu.fem.uniag.sk/mvd2006/zbornik/sekcia2/s2_martinovic_jelena_262.pdf https://bizfluent.com/info-12042327-differences-between-qualitative-quantitative-forecasting-techniques.html