MANAGEMENT

Detailed explanation-1: -Sales forecasts are predictions of how many products a business will sell in the future, based on data such as previous sales. Businesses can use many formulas to estimate information that can help them plan, operate and make decisions.

Detailed explanation-2: -To forecast sales, multiply the number of units by the price you sell them for. Create projections for each month. Your sales forecast will show a projection of $12, 000 in car wash sales for April. As the projected month passes, look at the difference between expected outcomes and actual results.

Detailed explanation-3: -To use historical forecasting, companies need past data to set a benchmark for the number of sales that can be predicted for a given quarter. Companies that have a year’s worth of data can use it to establish historical growth. Historical growth is the percentage of growth revenue experiences from one year to the next.

Detailed explanation-4: -A sales forecast estimates how much your company plans to sell within a certain time period (like quarter or year).