Find Jobs
Hire Freelancers

7 sales forecasting factors you need to consider

Sales forecasting is a science. Here's how to hone your skills
2019. 9. 11. • 3 분 읽을 거리
업데이트 작성일: 2019. 9. 12., 작성자: Eleanor M.
표지 사진

Forecasting sales isn't just guesswork. It's a science 

The sales and revenues that your business generates will vary from year to year. However, it is possible for you to forecast your business sales with relative accuracy.
There is a science to sales forecasting. Here are some factors that need to be considered for you to predict your sales and revenues for each year.

1. Past Economic Performance

The historical business data across all levels and sectors of the organization matters. Data of this nature is used to show what happened to the business under different conditions in the past. It can be used to determine the way your business will perform if some of the events happen again within the year. The company can use the data to adapt its operations and ride the economic wave. This, in turn, may help create a more positive forecast.

2. Current Global Conditions

The world is a global village. What happens in one corner of the world will likely affect a business at the other end of the world. Issues that have a global impact like wars and political elections therefore matter a lot to your business forecasts.
If the current global or regional conditions look like they could get out of hand, your forecasts should be adjusted for the ongoing events. You must adjust the values of your production levels, marketing efforts, and product pricing. All these things will affect your business forecasts greatly.

3. Current Industry Conditions

Even if your business is immune to what is going on in the world, it is unlikely to remain unaffected by the current industry conditions.  These may include government policies that affect your business, the rate of growth in your industry, and even your market share within that sector. For that reason, the market conditions that your business grapples with will affect your forecast tremendously.

4. Rate of Inflation

Inflation is usually inevitable. It will affect the value of the currencies that you use for your business operations. You may also have to deal with artificial adjustments in inflation depending on the part of the world in which you will be doing business.
Since you have minimal control over inflation, your business needs to adjust your predictions based on what you can expect to happen. It is always better for you to err on the side of caution regarding this matter.

5. Internal Organizational Changes

Changes within the business organization usually brings about a certain level of unpredictability for investors. Many of them may have a problem investing in your business or its products during the transitional period.
If your business or organization is set to go through internal changes, you should factor them into your forecasts. This will help all the stakeholders adapt well if the sales do not meet your original targets.

6. Marketing Efforts

It is quite possible that the marketing efforts of the previous years will have a significant impact on the current sales and revenues. When making your business forecasts, consider the possible effects of your marketing activities that have already occurred. This will help you get a better picture of what exactly is expected to happen on the earnings front.

7. Seasonal Demands

If there are seasonal demands based on periodic events that are expected, consider them when making your forecasts. These demands may help raise your sales and revenues significantly.
Business forecasting is at best an estimation game for businesses. However, the level of accuracy is dependent on the factors that you consider. The more factors that you take into consideration, the closer to reality your business forecasts will be.
어떤 유형의 일을 처리하려고 하시는지 알려 주십시오.
고객님의 프로젝트명을 입력하여 주십시오.
자신의 프로젝트를 시작
관련 스토리

고객님의 프로젝트를 도와 드릴 저희 기술 부조종사팀과의 대화 시작

지금 도움 요청
감사합니다! 무료 크레딧을 신청할 수 있는 링크를 이메일로 보내드렸습니다.
이메일을 보내는 동안 문제가 발생했습니다. 다시 시도해 주세요.
등록 사용자 전체 등록 건수(일자리)
Freelancer ® is a registered Trademark of Freelancer Technology Pty Limited (ACN 142 189 759)
Copyright © 2024 Freelancer Technology Pty Limited (ACN 142 189 759)
미리 보기 화면을 준비 중...
위치 정보 관련 접근권이 허용되었습니다.
고객님의 로그인 세션이 만료되어, 자동으로 로그아웃 처리가 되었습니다. 다시 로그인하여 주십시오.