Introduction to Sales Forecasting
Master the art and science of sales forecasting to drive business growth and make informed decisions.
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Fundamentals of Sales Forecasting
Unit 1: Understanding Sales Forecasting
What is Sales Forecast?
Importance of Forecast
Forecasting Benefits
Forecasting Challenges
Overcoming Obstacles
Unit 2: Types of Sales Forecasts
Time Horizon: ST
Time Horizon: MT
Time Horizon: LT
Data Type: Qual
Data Type: Quant
Unit 3: The Sales Forecasting Process
Define Objectives
Data Collection
Choose Method
Create Forecast
Monitor and Refine
Qualitative Forecasting Methods
Unit 1: Introduction to Qualitative Forecasting
Qualitative Forecasting
Types of Techniques
Benefits & Drawbacks
Data for Qualitative
Best Use Cases
Unit 2: Market Surveys and Customer Insights
Planning a Survey
Survey Question Design
Administering Surveys
Analyzing Survey Data
Survey Limitations
Unit 3: Expert Opinions and the Delphi Method
Identifying Experts
Gathering Expert Input
Delphi Method
Analyzing Expert Data
Best Practices
Quantitative Forecasting Methods: Time Series Analysis
Unit 1: Introduction to Time Series Analysis
What is Time Series?
Time Series Components
Data Preprocessing Basics
Stationarity Explained
White Noise Concept
Unit 2: Moving Averages for Forecasting
Simple Moving Average
Weighted Moving Average
Centred Moving Average
MA Limitations
MA Use Case
Unit 3: Exponential Smoothing Methods
Simple ES
Holt's Linear ES
Holt-Winters ES
ES Model Selection
ES Use Case
Unit 4: Seasonality and Trend Analysis
Identifying Trends
Identifying Seasonality
Decomposition
Seasonal Adjustment
Combining Methods
Unit 5: Evaluating Forecast Accuracy
Forecast Errors
MAE & RMSE
MAPE
Forecast Bias
Visual Evaluation
Quantitative Forecasting Methods: Causal Modeling and Regression Analysis
Unit 1: Introduction to Causal Modeling
Causal Modeling Intro
Causal Variables
Data Sources for Models
Correlation vs Causation
Intro to Regression
Unit 2: Regression Analysis for Sales Forecasting
Simple Linear Regress.
Multiple Regression
Regression Assumptions
Model Selection
Regression Software
Unit 3: Advanced Regression Techniques
Non-Linear Regression
Lagged Variables
Dummy Variables
Interaction Terms
Time Series Regression
Advanced Forecasting Techniques, Tools, and Implementation
Unit 1: Advanced Forecasting Tools
Intro to Forecasting Tools
Tool Selection Criteria
Tool Setup & Integration
Using Tool Features
Troubleshooting Common Issues
Unit 2: Monitoring and Refining Forecasts
Setting Up Tracking Metrics
Analyzing Actual vs. Forecast
Refining Forecasting Models
Feedback Loops and Reporting
Responding to New Data