Predicting future quantitative value ( e.g. demand of resources , revenue or cost increase etc) based on historical data point is called forecasting..
Based on various factors such as sales pipeline, economic situation and internal factors, forecasting resource requirements for next 12 months.
Marketing Budget Allocation
Forecasting sales volume over a period for a current account portfolio to plan marketing budget for onboarding and various other marketing activities.
Some of the commonly used forecasting techniques are listed below
|Forecasting Technique Type||Technique|
|Sales Force Composite|
|Simple Exponential Smoothing|
|Time Series Decomposition and Forecasting|