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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).
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:
Read more about forecasting on Wikipedia.
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.
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.
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.
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 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: