Sales Forecasting and Analysis

Sales forecasting and analysis is the process of predicting future sales based on historical data, market trends, and other relevant factors. Businesses use these forecasts to make informed decisions about inventory, staffing, and budget planning. By analyzing past sales patterns and current market conditions, companies can estimate how much product they are likely to sell in the future, helping them optimize resources, reduce costs, and enhance profitability. Effective sales forecasting supports strategic planning and can lead to better customer satisfaction by ensuring that products are available when needed.