LONDON--(BUSINESS WIRE)--Quantzig, a premier analytics solutions provider announced the completion of their latest article which covers everything that you need to know about sales forecasting. For any business, sales is the lifeblood. It helps you to pay your employees, buy more inventory, cover operating expenses, attract more investors, and market new products. Sales forecasting is an important part of financial planning for a business.
Sales forecasts allow you to spot potential issues while there's still time to avoid or mitigate them. Get in touch and learn more about how we can help you identify gaps in your sales strategy.
An accurate sales forecast can help you plan for the future effectively and smartly. Here in this article, we have compiled a detailed guide to help you understand all you should know about sales forecasting.
What is Sales Forecasting?
It is defined as a process of estimating future sales. Sales forecasting tools enable companies to make wise and informed business decisions and predict long-term and short-term performance. Companies can base their predictions on industry-wide comparisons, past sales data, and economic trends. These tools also offer better insights into how a company should manage its cash flow, workforce, and resources.
“Sales forecasting can play a major role in your company's success, according to our observance companies with accurate sales forecasting are more likely to grow their revenue year-over-year,” says a sales analytics expert from Quantzig.
Request a free brochure of our analytics solutions to learn how demand forecasting can help you optimize your sales strategy and drive more sales.
Why is Sales Forecasting Important?
Forecasting sales is a key element of conducting any business. It is important for the following reasons:
- Sales planning
- Demand forecasting
- Higher OTIF delivery
- Inventory controls
- Supply chain management
- Continuous improvement
Talk to our analytics experts to gain in-depth insights on how an analytics-driven sales forecasting approach can help you optimize and control your inventory.
Our Sales Analytics Capabilities:
- Sales and Operational Planning Analytics
- Sales Analysis and Forecasting
- Sales Force Effectiveness
- Trade Spend Analysis
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal