Author: litethousense

Demand Forecasting for Business Growth In its most basic form, a forecast predicts future occurrences. Demand forecasting, in a corporate context, is the process through which demand planners attempt to estimate what demand for a specific product or service will be in a particular period, which can be a week, a month, or eaven a year. Its only goal is to find an accurate answer; hence demand forecasting is heavily data-driven. Demand forecasting is a critical part of many businesses. But it can be challenging to get accurate predictions without the correct data. Here are seven data types that every demand…