4.3 - Sales Forecasting

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6 Terms

1
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Sales Forecasting

a quantitative management technique used to predict a firm's level of sales over a given time period

2
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Seasonal variations

Are periodic fluctuations in sales revenues during different times of the year.

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Cyclical Variations

recurrent fluctuations in sales revenues due to the economic cycle if booms and slumps

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Random Variations

unpredictable fluctuations in sales revenue due to erratic and irregular factors that cannot be reasonably anticipated

5
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Time Series Analysis

sales forecasting technique that attempts to predict sales by identifying the underlying trend from a sequence of actual sales figures.

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Extrapolation

Estimating a value outside the range of measured data