Sales Forecasting

7 reasons you shouldn’t use Excel for sales forecasting

6 minutes read

Sales forecasting in Excel is a hot topic if you judge by how often those three key words are found in Google searches. But there seems to be a misconception that an Excel sheet is the right place to do sales forecasting, and we understand why.

Sales forecasting and inventory optimization

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Sales forecasting for intermittent or sporadic demand

long tail

The goal of sales forecasting of intermittent demand isn’t to achieve the most accurate forecast, but rather to predict how much inventory needs to be held to make sure you can meet demand for future random sales.

Seven points to consider before choosing the right business intelligence software for your retail business

A successful retail business is all about getting the numbers right, especially the scale of those numbers. Retail empires start small, usually driven by the owner’s passion for a certain field or interest. Let’s say you know everything there is to know about fly fishing. You’ve tried everything, every piece of equipment, so you know what’s best. You leverage this skill and know-how into your very first retail shop. You are in the best position to give good, professional advice to your customers. You know which manufacturers are for real, and which ones make shiny but useless pieces of equipment. So you start your business and quickly become popular among sport fishermen. The sky is the limit now. Or is it?

Shopify inventory management and where to start

When you mention inventory management, most people imagine a pencil, paper, and hours spent in a storage room, counting away. However, modern businesses all around the world tend to utilize advanced solutions throughout the process….