What is a sales forecast?

A sales forecast estimates how much your company plans to sell within a certain time period (like quarter or year). The best sales forecasts do this with a high degree of accuracy. Sales forecasts differ in where they’re getting their inputs – for example, they may rely on sales reps’ intuition or even artificial intelligence (AI).

What is good forecasting?

Good forecasting is the reverse: It is a process of strong opinions, weakly held. If you must forecast, then forecast often—and be the first one to prove yourself wrong. The way to do this is to form a forecast as quickly as possible and then set out to discredit it with new data.

What is forecasting & how does it work?

Forecasting is a technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trends. Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time.

Is sales forecasting an art or a science?

Sales forecasting is both an art and a science. Take a deep dive in how to forecast like a pro. Building a sales forecast is both an art and a science. Accurate sales forecasts keep your leaders happy and your business healthy.