Templates
Sales
Sales Forecast Development Process
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Sales Forecast Development Process

Explore the Sales Forecast Development Process, a strategic workflow designed to aid in accurate prediction of sales trends based on market, competitor, and industry analysis.
1
Identify the objective of the forecast
2
Identify the product or service to be forecasted
3
Gather historical sales data
4
Analyze the market conditions
5
Analyze competitor strategies
6
Identify key sales drivers
7
Develop a statistical model for prediction
8
Input data into the statistical model
9
Compute the preliminary forecast
10
Adjust preliminary forecast based on market trends
11
Adjust preliminary forecast based on industry trends
12
Adjust preliminary forecast based on company-specific factors
13
Verification of forecast data
14
Approval: Sales Director
15
Finalize the sales forecast
16
Development of action plan based on sales forecast
17
Disseminations of the sales forecast to key stakeholders
18
Monitor and adjust the forecast as necessary