How a sales forecast can be useful on Black Friday

Sales forecast is a methodology that uses artificial intelligence (AI) in the production chain to make forecasts, very important in times like Black Friday.

And being able to view estimates and make coherent projections makes all the difference for businesses on commemorative dates, which are always excellent opportunities to boost sales, reinforce a brand and win new customers.

So, take advantage of this article to understand how companies have been using sales forecasting with AI to stand out on Black Friday (and always!) through good sales forecast planning.

Good reading!

What is Black Friday?

Originating in the United States, Black Friday opens the Christmas shopping season. And other countries, such as Brazil, take advantage of this annual period to boost their sales with exclusive offers and discounts.

Despite being designed to happen in just one day (on a Friday, in this case), there are companies that extend this moment for more days or even for the entire month of November.

And as has become tradition, demand for various segments increases significantly during this period, whether in the areas of technology, travel, clothing and even food and beauty.

But Black Friday has another important objective, in addition to selling more products and services, which is to generate brand exposure for new consumers .

In other words, this is a seasonal date that requires months of planning to be successful. And that's where the sales forecast comes in.

What is a sales forecast?

Sales forecast is a methodology that uses artificial intelligence (AI) in the production chain to make forecasts, very important in times like Black Friday.

After all, if you can visualize estimates, make projections and monitor the evolution of your strategy in real time , you can also make assertive and timely decisions based on this data, without guesswork, to redirect something that needs to be improved.

For example, let's say you have a clothing industry and, with a sales forecast already running, one fine day, your online sales skyrocket. You'll be happy, of course! But, in a short time, while analyzing your dashboard, you clearly come across an aspect of logistics that can be optimized…

See that, by monitoring in real time, you identify errors or problems before they happen, improving the results of your operation with a sales forecast.

How does a sales forecast work?

A sales forecast allows various advanced analyzes of historical or non-historical data to be carried out.

This means that we can create a forecast both for a company that has existed for a while (which already has historical data to be used), and for a new company that has not provided any data, so to speak.

So, if your organization is new, don't worry. It is possible to analyze historical data from competitors to map the market and start building your company with a sales forecast !

Either way, for your forecast to work successfully, you will need a team that is skilled in technologies, such as machine learning and artificial intelligence, to cross- reference the large volumes of business variables in the data that will be used. There are rare cases in which a management team can evaluate and cross-check so many variables alone.

And when everything is ready, when your sales forecast is focused on your business, it will be possible:

• predict market trends
• plan product inventory
• establish assertive standards
• identify faults

And much more!

If you haven't thought about it yet, your company can start planning for Black Friday next year now.

Benefits of sales forecast for Black Friday

Companies expect a significant increase in sales during Black Friday. However, there are many challenges to be overcome.

Due to the large number of accesses to websites and other sales channels, those who want to buy may encounter slowness in the systems (which are not prepared to support this), and may not complete their purchase journey for this reason. And that's not what you want, right?

With the predictability that a forecast allows , it is easier to plan and set up an adequate infrastructure to support the greater volume of accesses.

Furthermore, the sales forecast can provide insights for your Black Friday to be better, as it allows you to analyze data from previous years in an advanced way , such as the number of clicks, customer interests and searches carried out, for example.

This way, your company can better organize its infrastructure to serve everyone without system failure, without lack of merchandise, without logistics problems, payments , among other problems that can be avoided for an excellent result on Black Friday by having a sales forecast.

And the use of forecasts is also very useful at this time so you can have knowledge of your market, make a consistent projection based on advanced data analysis, and not miss the opportunity to boost your sales .

Therefore, if you want to surf the wave of the moment, you need to have a structure prepared to manage your company's data with well-defined objectives in advance .

It is also important to think that sales can happen both online and in physical stores, and take into account that the virtual environment has transformed the shopping experience for consumers in such a way that today it is essential to adopt an omnichannel strategy for your company to benefit from all the benefits of the Black Friday sales forecast .

How your business can stand out on Black Friday

Black Friday is a great opportunity for your company, but to make it stand out from the crowd, you need advance planning:

• know your company well;
• know your target audience well;
• ensure a good and effective online presence;
• optimize the customer experience;
• build your sales forecast with Indicium to make all this happen!

Through personalized forecast work
and good planning, your company can have
more than excellent results next Black Friday!

But this process does not happen suddenly, there is a lot of work ahead.

The interesting thing is that, until next Black Friday , you can reap good results throughout the process!

So, how about staying one step ahead of the market with predictive analysis?

Access this link and let's talk about your company's success next Black Friday with a personalized sales forecast for your business?

We look forward to hearing from you! Until later!