The Ultimate Excel Sales Forecasting Guide: How to Choose and Build the Right Forecasting Model (With Step-By-Step Instructions)
If you want to stay afloat in today’s cutthroat business world, it’s important to stay one step ahead of the competition. For this, you need to turn sales forecasting into an art form.
This can be challenging for small and new businesses. Entrepreneurs are often optimistic about the future of their businesses. Yet, many are uncertain about the best way to predict their profit margins.
In this article, you’ll learn what sales forecasting is all about and how to do sales forecasting in Excel.
What is sales forecasting?
Sales Forecasting in Excel
Method 1. Exponential Smoothing
Method 2. Moving Average
Sales forecasting is the process of predicting your future sales revenue. It typically involves estimating how much your company will sell within a specific time period. That may be the next week, month, quarter, or year.