GENERAL KNOWLEDGE

Detailed explanation-1: -Demand forecasting, also known as sales forecasting, is a popular technique that businesses employ to gauge customer demand using historical data and other information.

Detailed explanation-2: -Demand forecasting tries to project future demand for a product or service. Sales forecasting attempts to predict actual sales for a specific period.

Detailed explanation-3: -What is sales forecasting? Sales forecasting is the process of estimating future revenue by predicting the amount of product or services a sales unit (which can be an individual salesperson, a sales team, or a company) will sell in the next week, month, quarter, or year.

Detailed explanation-4: -Demand forecasting is the process of using predictive analysis of historical data to estimate and predict customers’ future demand for a product or service. Demand forecasting helps the business make better-informed supply decisions that estimate the total sales and revenue for a future period of time.

Detailed explanation-5: -Demand forecasting, also known as sales forecasting, refers to the process of making estimates about future customer demand over a certain time period. It uses historical data along with other information.