Forecasting:Overview

Predicting future quantitative value ( e.g. demand of resources , revenue or cost increase etc)  based on historical data point is called forecasting..

Example

 Resource Planning

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.

Forecasting Techniques

Some of the commonly used forecasting techniques are listed below

Forecasting Technique Type Technique 
Qualitative Delphi
Market Research
Sales Force Composite
Quantitative Moving Average
Simple Exponential Smoothing
Time Series Decomposition and Forecasting
ARIMA
Regression

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