Benefits of quantitative sales forecasting

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What are the advantages and disadvantages of quantitative sales forecasting? Data can be objectively interpreted and bias is frequently not an issue. Advantages of quantitative forecasting: – Numerical so easy to interpret and easy to analyse for example graphs. – May lack detail. What is the limitation of financial forecasting?. Why Accurate Sales Forecasting Matters. A sales forecast helps every business make better business decisions. It helps in overall business planning, budgeting, and risk. Forecasting follows seven basic steps. 1. determine the use of the forecast. 2. select the items to be forecasted. 3. determine the time horizon of the forecast. 4. select the forecasting model. 5. gather the date needed to make the forecast. 6. make the forecast. 7. validate and implement the results. quantitative forecasts.
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