What is a sales forecast?

Sales forecast or sales forecast is a methodology for you to make decisions based on data by visualizing coherent estimates and projections about your company.

If a sales forecast methodology is well planned and used, it will generate many positive results, such as:

• assertiveness in decisions;
• financial predictability;
• resource optimization;
• personalization of marketing campaigns;
• better creative direction;
• more efficiency in business strategies;
• increased productivity and much more!

You will understand from this Indicium article that a very assertive sales forecast is a consistent forecast that does not follow intuitions, but is made based on data full of variables, through complex work that requires modern data analysis tools .

Keep reading.

What is a sales forecast?

Sales forecast or sales forecast is a methodology for you to make decisions based on data by visualizing coherent estimates and projections about your company.

With a sales forecast, you can:

1- obtain assertive information about the future of your business;

2- (re)direct strategies much more efficiently.

For example, let's say you need a sales forecast for your clothing industry.

You already understand that, in a time of crisis like the one we are still experiencing since the beginning of the Covid-19 pandemic  it is essential to be able to predict the next collections safely to overcome any adversity and continue achieving your growth goals.

After all, your goal is not to close the doors, right?

After studying the subject well, you call Indicium, of course, to start your data project, and we will work on creating a personalized sales forecast model for your industry.

So, with this predictive model ready, with all your data centralized, cleaned and transformed into that assertive information about the future of your business, which we talked about before, you will finally be able to (re)direct strategies much more efficiently to:

• find patterns (of mistakes and successes);
• predict failures;
• anticipate trends;
• identify critical aspects;
• plan future collections.

And much more!

Can you make a sales forecast without historical data?

It does too.

Making a sales forecast without historical data can happen, for example, when the company decides to invest in this methodology to get ahead from the opening of its business.

In this case, we can make a sales forecast based on market data, looking at your competition, and at their historical data that is available.

In other words, it will be based on the analysis of information from businesses similar to yours, such as average ticket, best-selling products and services, sales volume, etc..., that we will direct all strategic planning to predict your company's sales.

What about the sales forecast with historical data?

If your company already has a story to tell, you have a lot of data to analyze!

In this case, your sales forecast will use all information from historical data (and current data too). We will compile, evaluate and cross-reference all variables. A very complex job.

To make this really work, whether with historical data or not, Indicium has a team of professionals who are experts in technologies, such as machine learning and artificial intelligence, for example, which allow this crossing of large volumes of business variables from the data that will be used.

How to make a sales forecast?

To create a sales forecast, in practice, we will connect machines, systems and people , creating intelligent networks throughout the production chain of your company or industry.

This way, we created an intelligent, robust and accessible ecosystem for you and your entire team, capable of predicting and avoiding failures before they happen.

Therefore, in times of crisis, as we have already exemplified, it is also easier to adapt quickly to adverse situations by working with autonomy and assertiveness so as not to lose, and always win!

Anticipate future risks and realize opportunities for success

You can improve the results of your operations by monitoring trends, identifying errors or internal problems before they happen, so you can (re)plan future collections.

As? With a robust application to visualize all this happening, in real time.

A sales forecast allows you to perceive opportunities and make your decisions not with intuition, but based on data. Only then will you truly gain a competitive advantage over your competition.

After all, we are in the age of information technology and data is the new oil. Use yours!

Start or forecast about sales com from Information

Let's talk!

Do you want to know how to apply a sales forecast in your company?

Speak to our team of experts and conquer your space in the market.