Sales Forecasting

Sales forecasting is a business process that uses historical data, market analysis, and statistical models to predict future sales revenue over a specific period. It helps organizations plan inventory, allocate resources, set budgets, and make strategic decisions by estimating demand for products or services. This methodology combines quantitative techniques with qualitative insights to create actionable projections.

Also known as: Revenue Forecasting, Demand Prediction, Sales Projection, Sales Estimation, Forecasting Models

Why learn Sales Forecasting?

Developers should learn sales forecasting when building data-driven applications for e-commerce, retail, finance, or supply chain management, as it enables features like demand prediction, inventory optimization, and revenue analytics. It's crucial for roles involving business intelligence, machine learning, or dashboard development, where accurate forecasts drive operational efficiency and strategic planning in sales-oriented industries.

Learning Resources

• docs: Sales Forecasting: A Practical Guide
• tutorial: Time Series Forecasting in Python
• course: Machine Learning for Sales Forecasting on Coursera
• video: Sales Forecasting Techniques Explained
• book: Forecasting: Principles and Practice