Sales forecasting using historical data
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Sales forecasting using historical data

Sales forecasting using historical data

Description:

Published: May 5, 2018 0 0 769
By: Alex King Alaoen, Cal State San Marcos
Category: Other

The use of historical sales data to forecast future demand.


Previous years of completed sales were analyzed to find trends; sales tended to increase each year, and some months experienced a higher quantity of sales than others (seasonality).


The Microsoft Excel 2013/2016 program was used to identify trends from 3 years worth of sales data and then simulate potential sales for the next year using those trends.


Techniques used: exponential smoothing, Holt-Winters models