Sales Forecasting provides a detailed yet simplified guide for companies discerning appropriate forecasting models. This text was specifically designed to aid business decision-makers who have a need for forecasts, but are uncomfortable with the process. By addressing common problems, benefits, and disadvantages involved with each model, the text offers a simple formula for determining the appropriate forecasting model. The topics of discussion include:
Determining a forecasting model’s accuracy, consistency, accountability, and implementation;
Selection of a model based on required data (quantitative or qualitative) and how that data will be used; and,
What questions should be asked before choosing an appropriate model.
The various models of product forecasting are presented and analyzed in an informative yet easily accessible style that will prove invaluable for business owners, decision-makers, as well as marketing and economics students. Regardless of the size of the business or project, this guide provides simple step-by-step instructions to fully understand the selection and implementation processes involved with forecasting models.
George C. Michael was the Market Development Manager for United Air Lines and Lecturer in the Graduate School of Business at Loyola University in Chicago. He authored several works in the field of marketing, such as the monograph entitled, Sales Forecasting in 1979.