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Making a Sales Forecast
Gain a better understanding of market dynamics when it comes to forecasting.Preview the first lesson free — get full access to all 8 lessons.
Intermediate Provider : Kersten Kelly Brunner 8 Lessons · 19m in Arabic, German, English, Spanish, French, Portuguese, Urdu, Chinese
Course Description
Your sales forecast needs to align with your marketing plan, which requires you to define the market category you compete in. In these lessons, you’ll learn how to identify the roles your product or service plays to forecast. You will also learn the impact of understanding market categories and dynamics, and where and how to collect data. In these lessons, you will learn how predicting sales revenue and performance can be done through a successful forecast. You will gain a better understanding of the impact of market categories and dynamics, and the differences in qualitative and quantitative sales methods. You will also discover how to choose the best technique and why it’s important to revise forecasts regularly.
What You'll Learn
- Compare various methods of collecting data to use in a sales forecast
- Identify the difference between qualitative and quantitative forecasting methods
- Choose the best technique to conduct your forecast
- Distinguish between unexpected change and ongoing, sustainable change
- Apply the rolling forecast approach to revise forecasts regularly
- Identify the roles your product or service plays and the impact of market categories and dynamics
Key Takeaways
- A sales forecast needs to align with your marketing plan, which requires defining the market category you compete in.
- Understanding market categories and dynamics affects how you forecast and predict sales revenue and performance.
- Forecasting methods fall into qualitative and quantitative approaches, and it is important to choose the best technique.
- Recognizing the difference between unexpected change and ongoing, sustainable change informs the forecasting process.
- Revising forecasts regularly, including through the rolling forecast approach, is important for accurate forecasting.
Frequently Asked Questions
What will I learn in this course?
You will learn how to identify the roles your product or service plays to forecast, understand the impact of market categories and dynamics, know where and how to collect data, compare qualitative and quantitative sales methods, choose the best technique, and understand why it is important to revise forecasts regularly.
What topics does this course cover?
The course covers market categories and dynamics, collecting information, qualitative sales forecasting, quantitative sales forecasting, selecting a method, choosing a technique, and revising forecasts, and concludes with a Test Your Knowledge lesson.
What is the difference between the forecasting methods taught?
The course teaches the difference between qualitative and quantitative forecasting methods and how to choose the technique used to conduct your forecast.
Does the course explain how to keep a forecast up to date?
Yes. It explains why it is important to revise forecasts and how to use the rolling forecast approach, as well as the difference between unexpected change and ongoing, sustainable change.
