In this video, we'll review how Demand Forecasting can help businesses estimate the total sales and revenue for the upcoming future.
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▶ TIME CODES:
00:00 What is Demand Forecasting?
01:00 The Types of Demand Forecasting
02:00 The Methods of Demand Forecasting
04:00 How to Accurately Forecast Demand?
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▶ About this video:
Demand Forecasting can be defined as a process of analyzing historical sales data to develop an estimate of an expected forecast of customer demand.
Demand Forecasting is essential for e-commerce as you cannot run a successful business without a thorough understanding of demand. It will help you in:
Budget Preparation,
Pricing Strategy Development,
Customer Relationship Management and
Storing Inventory
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