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Sales Forecast KPI

All about sales forecasts that you'll find in kopilot explained.

sales forecast kpi

Sales forecast

End of Year Forecast

The end of year forecast is the prediction of future sales on the last day of the current year (either the calendar year of the fiscal year).

Forecasting

The process of making predictions of the future based on past and present data and most commonly by analysis of trends.
kopilot can forecast sales or predict sales.

kopilot focuses on future income at the year ending or over the next 12 months, without consideration to when the year ends.

Forecasting in kopilot uses the scenario analysis:

  • What will happen if nothing changes compared to last year?
  • What will happen if current circumstances continue?
  • What will be according to the natural trend according to the moving average?
  • What will be according to statistics and linear extrapolation?

Read more about forecasting on Wikipedia.

Linear Extrapolation

Linear prediction is a mathematical operation where future sales values come from a linear function of past sales. It belongs to statistical forecasting from kopilot's scenario analysis.

Moving Average

Moving average (rolling average or running average). It belongs to statistical forecasting from kopilot's scenario analysis.

It is a calculation to forecast sales by creating a series of sales averages over identical and successive periods.

In kopilot, we use 12 month periods. We use this method to smooth out short-term fluctuations and highlight longer-term trends or cycles. When calculating successive values, a new value comes into the sum, and the oldest value drops out;

Read more about Moving Average on Wikipedia.

Rolling Forecast

The rolling forecast is the prediction of future sales with a constant scope. In kopilot, each data point is the result of the 12 previous months.

For instance:

  • The sales forecast for this year's January is the result of the data between last year's January and December.
  • The sales forecast for this year's February is the result of the data between last year's February and this year, January.
  • And so on.

Sales Forecast

The sales forecast is the estimation of future sales. Accurate sales forecasts enable companies to make informed business decisions and predict short-term and long-term performance. Companies can base their estimates according to various scenarios.

Sales Prediction

The sales prediction is the sales forecast at a specific date. We use the term "forecasting" in the case of historical data and the word "prediction" in the case of data relating to a specified period.

Scenario Analysis

Scenario analysis is a process of projection by analyzing future events considering possible alternative outcomes. It is like observing the curse of events in alternative worlds. Our scenario analysis does not try to show one exact picture of your future. Instead, we present several alternative futures. Consequently, a scope of possible future outcomes is observable. Not only are the results visible, but also the development paths leading to the findings.

Four scenarios are available:

  • What will happen if nothing changes compared to last year?
  • What will happen if current circumstances continue?
  • What will be according to the natural trend according to the moving average?
  • What will be according to statistics and linear extrapolation?

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