Examination of prior history, seasonality, market-moving events, etc. results in a realistic revenue prediction, which is the cornerstone of a company's planning.
Increasing sales in a new company is not a simple process. There are different ways to make it possible, some more effectively than others.
Sales forecasting aims to answer these questions:
Sales forecasting provides us with a large amount of information that not only helps us increase sales, but implicitly is very useful in many other aspects, given a data set. This data set comes of variables that can change depending on the problem.
However, there is a method that provides crucial information for the growth of the company: sales forecasting. To develop it effectively and accurately, we use advanced analytics, a fundamental concept for data processing.
The databases of previous customer sales can provide a lot of information about future ones.
This source, along with the knowledge market moving events, can lead us to predict with certain precision the sales in a determined time (weekly, monthly, quarterly, annually...).
This process is called sales forecasting. It gives insight into how to administer and invert the company resources properly.
Thanks to big data we could anticipate the client's response and change aspects by observing the different influential factors to make the best decisions to increase sales.
It is an integral aspect in the business intelligence since the level of sales revenue affects basically all the fields of a company.
Study trends and statistics about historical sales data of a store.
Discover the factors that are more related to an increase o decrease in the sales.
Develop a predictive system that can help you to manage the resources.
Plan future growth, improve your products and allocate resources more effectively.
To carry out the analytical process in an efficiently way we use the machine learning software Neural Designer.
It is an efficient program that can treat a big amount of data, for which it uses neural networks.
The predictive model helps you to know an approximate objective prediction of the amount of products that the store will sell and to prepare the inventory and manage the cash flow.
It detects the factors that most influence sales and provides you with information that is of great importance to you to make important decisions in the growth of your company.