203 Sales forecasting Flashcards

1
Q

Sales forecasting

A

Predicting future sales revenue, based on historical sales data, analysis of market surveys and trends

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2
Q

Extrapolation

A

Identifying the trend in past data and projecting this trend forwards

(predicting the future based on the past)

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3
Q

Correlation

A

The relationship between two variables

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4
Q

Time-series analysis

A

Statistical methods to analyse and forecast sales
An example is a 3 point moving average

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5
Q

Delphi method

A

Getting a panel of experts to come together regarding the prospect of future sales, sending questionnaires to them

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