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mohit kapoor
Can anybody suggest me suitable statistical methods of forecasting sales??
From India, Delhi
tomhawk
First if your starting new or running business.
In the case of running business gather the pervious sales targets compare the difference between the actual and forecasted sales. Generate an factorial list that effects the nature of your business e.g. boom in population or new laws etc. Over the years keep tab of the changes happening in the news. Gather stats the prove the increase in sales achievements. Comibition of the above data can help your determine your new sales forcast.
2. For new busines! JUST DO YOUR HOME WORK BEFORE YOU STEP IN THE MARKET!
Cheers

From United Arab Emirates, Dubai
nashbramhall
1624

Hi Mohit,
I used to teach operations management and demand forecasting was one of the topics. You have not given any information as to whether you have historical data or not. I suggest that you read the material available at the following site and select the most appropriate method.
Have a nice day.
Simhan
Forecasting

From United Kingdom
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