Demand forecasting is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods, such as educated guesses, and quantitative methods, such as the use of historical sales data or current data from test markets. Demand forecasting may be used in making pricing decisions, in assessing future capacity requirements, or in making decisions on whether to enter a new market.
Read more about Demand Forecasting: Methods That Rely On Qualitative Assessment, Methods That Rely On Quantitative Data, Some of The Other Methods
Famous quotes containing the word demand:
“The mind demands rules; the facts demand exceptions.”
—Mason Cooley (b. 1927)