Sales Forecasting Models

Sales forecasting models are formulas brands use to predict future sales trends, financial needs, and earned revenue.

What Are Sales Forecasting Models?

Brands use sales forecasting models to predict future revenue intake and collect data to inform their sales initiatives. The data derived from these models enables brands to pinpoint budget needs, make more strategic sales decisions, and allocate resources more effectively. There are several common sales forecasting models available to brands. Straight-line modeling, for example, is when brands use historical sales data to project future sales. Linear regression models, on the other, consider how two sales variables — like revenue and profit — relate to one another, helping the brand identify any problems with their pricing strategy or other factors. Econometric models predict future sales by looking at external factors like seasonality, economic shifts, and inflation. By employing one of these sales forecasting models, brands can better handle their current and future sales needs.

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