{"id":6574,"date":"2021-08-02T12:09:38","date_gmt":"2021-08-02T17:09:38","guid":{"rendered":"https:\/\/www.dataknow.io\/?p=6574"},"modified":"2024-11-15T13:23:05","modified_gmt":"2024-11-15T18:23:05","slug":"sales-forecast-to-improve-your-company","status":"publish","type":"post","link":"https:\/\/dataknow.io\/en\/sales-forecast-to-improve-your-company\/","title":{"rendered":"Sales Forecast to improve your company&#8217;s organization"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6574\" class=\"elementor elementor-6574\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8a2c05e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8a2c05e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-76cd7af ot-flex-column-vertical\" data-id=\"76cd7af\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94023ee elementor-widget elementor-widget-heading\" data-id=\"94023ee\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h4 class=\"elementor-heading-title elementor-size-default\">By DataKnow Editorial Team\u200b<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b662684 elementor-widget elementor-widget-heading\" data-id=\"b662684\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is a sales forecast?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3960a6a elementor-widget elementor-widget-text-editor\" data-id=\"3960a6a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.17.0 - 08-11-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>A sales forecast is a tool for forecasting the demand for a product or service for a future period, taking as a reference, data from our sales history and the information provided by the marketing team.<\/p><p>In addition to helping us organize ourselves, it allows us to foresee possible events so that we are not taken by surprise by having a damage control prepared.<\/p><p>Developing accurate sales forecasts requires the collection of information on the relevant facts and conditions prevailing in the market. This information is then processed using the most appropriate technique so that the resulting forecast is predictive and therefore more accurate than a random forecast.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c0e853c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c0e853c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6c6387b ot-flex-column-vertical\" data-id=\"6c6387b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f11478b elementor-widget elementor-widget-heading\" data-id=\"f11478b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How is a sales forecast made?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9980e20 elementor-widget elementor-widget-text-editor\" data-id=\"9980e20\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Out there there&#8217;s a good offer for specialized software to perform sales forecast, just like the one we use in Dataknow. But if this concept is new to you, perhaps you can start by doing a small exercise at home and at no cost with a basic tool like Excel. Using real or fictitious data, you can get a taste of what a forecast looks like.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-98a2aab elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"98a2aab\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ec9f252 ot-flex-column-vertical\" data-id=\"ec9f252\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-240527a elementor-widget elementor-widget-heading\" data-id=\"240527a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Data necessary to do the forecast:<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f4c0345 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f4c0345\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8a2ccc7 ot-flex-column-vertical\" data-id=\"8a2ccc7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b21de01 elementor-widget elementor-widget-iiconbox\" data-id=\"b21de01\" data-element_type=\"widget\" data-widget_type=\"iiconbox.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"icon-box s2 box-gradient box-hover-gradient\">\r\n\t\t\t<div class=\"bg-s3\"><\/div>\r\n\t\t\t<div class=\"bg-before\"><\/div>\r\n\t\t\t<div class=\"bg-after\"><\/div>\r\n\t\t\t<div class=\"icon-main\">\r\n\t\t        \t\t        \t<i aria-hidden=\"true\" class=\"fas fa-calendar-check\"><\/i>\t\t        \t\t\t    \r\n\t\t\t    \t\t        \t        <\/div>\r\n\t        <div class=\"content-box\">\r\n\t            <h5 class=\"box-title\"><\/h5>\r\n\t            <p>Past time periods with relevant data to analyze: days, weeks, months, semesters, years.\n<\/p>\r\n\t        <\/div>\r\n\t        \t\r\n\t    <\/div>\r\n\t    \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-87c7d7f ot-flex-column-vertical\" data-id=\"87c7d7f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b1b43d4 elementor-widget elementor-widget-iiconbox\" data-id=\"b1b43d4\" data-element_type=\"widget\" data-widget_type=\"iiconbox.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"icon-box s2 box-gradient box-hover-gradient\">\r\n\t\t\t<div class=\"bg-s3\"><\/div>\r\n\t\t\t<div class=\"bg-before\"><\/div>\r\n\t\t\t<div class=\"bg-after\"><\/div>\r\n\t\t\t<div class=\"icon-main\">\r\n\t\t        \t\t        \t<i aria-hidden=\"true\" class=\"fas fa-shopping-bag\"><\/i>\t\t        \t\t\t    \r\n\t\t\t    \t\t        \t        <\/div>\r\n\t        <div class=\"content-box\">\r\n\t            <h5 class=\"box-title\"><\/h5>\r\n\t            <p> The sales data corresponding to each period.\n<\/p>\r\n\t        <\/div>\r\n\t        \t\r\n\t    <\/div>\r\n\t    \t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-35d6707 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"35d6707\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-37ffcc4 ot-flex-column-vertical\" data-id=\"37ffcc4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e5df293 elementor-widget elementor-widget-text-editor\" data-id=\"e5df293\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For this example we want to forecast\u00a0<span style=\"letter-spacing: -0.2px; font-weight: var( --e-global-typography-text-font-weight );\">2022 period in excel.<\/span><\/p><ol><li>We place ourselves on the period box and go to <strong>Functions.<\/strong><\/li><li>More functions &gt; Statistics &gt; Forecast.<\/li><li>A dialog box opens where we must enter some values.<\/li><li>For the unknown<strong> X-value<\/strong>, we select the <strong>Period 2022<\/strong>. It is also possible to forecast several <strong>Periods<\/strong> at the same time by creating the corresponding boxes and selecting them.<\/li><li>In the <strong>Known Value Y<\/strong>, we must select the <strong>Sales.<\/strong><\/li><li>For the <strong>Known Value X<\/strong>, we select the <strong>Periods<\/strong>.<\/li><li>Ready! Accepting the values entered will give us the forecast for the <strong>Period 2022<\/strong>.<\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a91395e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a91395e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e394627 ot-flex-column-vertical\" data-id=\"e394627\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-45e462d elementor-widget elementor-widget-heading\" data-id=\"45e462d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why to do a Sales Forecast using Artificial Intelligence?<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-590e1ca elementor-widget elementor-widget-text-editor\" data-id=\"590e1ca\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Why not? It sounds pretty cool to do, but maybe that&#8217;s not a good enough reason. Currently sales forecasting is still done manually, but it is a very time consuming process that could be invested in some other tasks. Besides, nowadays there is so much data coming from a thousand different fronts that it is very complicated to keep up with it and we will probably miss important information. Working with A.I. software ensures predictability and accuracy.<\/p><p>Without accurate sales forecasts, many business decisions are based on unreliable estimates or intuition, leading to many inefficiencies and missed opportunities. Making a Sales Forecast using A.I. brings many benefits, such as increased profitability, productivity, flexibility, variety and accuracy, which allows your company or business to implement a strategy focused on the accuracy of your operations obtaining highly productive results.<\/p><p>Let&#8217;s talk a little bit about Machine Learning. This type of A.I. allows you to take into account the demand impacts in a very detailed way, taking into account a wide variety of data and factors such as holidays, weather and road closures, among others. Machine learning models learn patterns from the data to generate predictions. In this way, if the trend changes, the model can retrain itself and learn these changes. In addition, statistical learning algorithms can detect patterns that business analysts miss. The use of A.I. reduces the margin of error and enables more accurate business planning.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb5f9e9 elementor-widget elementor-widget-heading\" data-id=\"cb5f9e9\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3 main Forecast objectives<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03f0d3f elementor-widget elementor-widget-text-editor\" data-id=\"03f0d3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ol><li>Improve the company organizational\/operational processes in all areas, from communication with suppliers to the sale of the product or service.<\/li><li>Get to know more deeply the niche to which your organization belongs and its behavior by comparing forecasts with real data. This allows you to fine-tune your marketing strategy.<\/li><li>Improve logistics and transportation planning:<ol><li type=\"a\">You can adjust the stock to the actual demand and avoid product and raw material losses due to low demand.<\/li><li type=\"a\">It helps you to offer a product\/service with an adequate availability according to the market demand.<\/li><\/ol><\/li><\/ol>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f41e421 elementor-widget elementor-widget-text-editor\" data-id=\"f41e421\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Excel example gives you a taste of what you can achieve with Forecasting and it is amazing that there is the initiative to work with what we have at hand, however at Dataknow, we have<strong> <a href=\"https:\/\/www.dataknow.io\/forecast\/\">Forecast as a Service<\/a> <\/strong>which is our specialized <strong>software to apply with artificial intelligence techniques<\/strong> and machine learning.<\/p><p>With our comprehensive solution, we offer you the necessary advice <strong>to help your company to take advantage and monetize data in the right way, taking you to the next level.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>A sales forecast is a tool for forecasting the demand for a product or service for a future period, taking as a reference, data from our sales history and the information provided by the marketing team.<\/p>\n","protected":false},"author":2,"featured_media":11935,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[189,91],"tags":[481,442,485,470,496,497,441,468,484,494,448,477,467,498,493,495,488,492,486],"class_list":["post-6574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-artificial-intelligence","category-forecast","tag-automation","tag-big-data-2","tag-business-growth","tag-business-intelligence","tag-business-organization","tag-business-productivity","tag-data-analysis","tag-decision-making","tag-financial-planning","tag-forecasting-models","tag-operational-efficiency","tag-predictive-analytics-2","tag-resource-optimization","tag-sales-forecast-2","tag-sales-forecasting","tag-sales-management","tag-sales-strategies","tag-sales-technology","tag-strategic-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.4 - 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