4.3-sales forecasting

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Last updated 3:28 AM on 9/15/26
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4 Terms

1
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What is a sales forecast?

A prediction of future sales volume or sales revenue, often based on past data and expected market conditions.

2
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What is extrapolation?


Using historical data to identify and extend an existing trend to predict future sales.

3
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What is time series analysis?

The analysis of past sales data recorded at regular intervals to identify patterns and trends that can help forecast future sales.


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Types of variation

trend = long-term direction; seasonal = recurring time-of-year pattern; cyclical = economic/business cycle; random = unpredictable fluctuations.