The techniques used in sales forecasting include mathematical methods, as well as qualitative and subjective approaches. The latter are most commonly used for long-term forecasting when there is limited historical demand data available. Observed trends, however, may not continue. In fact, they may change due to changes in government policies, new innovations, or consumption patterns. In such cases, sales managers rely on mathematical methods. The following is a brief overview of the most popular sales forecasting methods. MEDDIC is an acronym for Multiple Element Deal Qualification Instrument (MEDIC) developed by…
Read MoreSales Forecasting – How to Construct an Accurate Sales Forecast
