203 Sales forecasting Flashcards
1
Q
Sales forecasting
A
Predicting future sales revenue, based on historical sales data, analysis of market surveys and trends
2
Q
Extrapolation
A
Identifying the trend in past data and projecting this trend forwards
(predicting the future based on the past)
3
Q
Correlation
A
The relationship between two variables
4
Q
Time-series analysis
A
Statistical methods to analyse and forecast sales
An example is a 3 point moving average
5
Q
Delphi method
A
Getting a panel of experts to come together regarding the prospect of future sales, sending questionnaires to them
