Sales Forecasting Methods

Analytics certification is an area of study in the world of data analytics which addresses the process of decision-making using data analysis. Net sales is the revenue that a business makes after all the deductions, returns and cancellations. The insight provided by analytics allows companies to optimize and automate the different business processes. National income accounting is associated with the social and economic factors of a nation, unlike just the financial management in a company.

Any problem in the organizational policies, ways the things are handled in the organization as well as the sales and marketing approach followed by the organization can all be found out during the forecasts and these problems can be attended to before they go out of hand.

Sales forecasting helps in this process, and enables the management in arriving at a rough figure of how much of profit can be expected in that year, and how much of that money can be invested by the organization. Both, gross and net profit are used in prime steps for the calculation of profit made by a business or a venture in a said accounting period.

Gross sales do not take into account the discounts offered by the company and neither does it include the expenses incurred in carrying out the business. During the training, you will learn about the actual meaning of business analytics and its importance in industry.

For ex. a location bar chart for a travel company which wants to target customers by location. One of the prime benefits that businesses may draw from such an advance analytics is the advantage of data visualization and prescriptive analytics. Analytical data software allows businesses to make better decisions faster and minimizes the risk of making unproductive business decisions.