Just as any modern management function must make use of the state of the art in techniques to get the job done, the information systems available to it, the latest in managerial processes and approaches to managing the function, and methods of measuring and rewarding performance, so must sales forecasting management.
Sales Forecasting Techniques
A myriad of forecasting techniques exist and are available to the sales forecast- ing manager. In fact, it often seems that too many techniques are available, and the choice decision can border on information overload (at last count, there were over
70 different time-series techniques alone). Such a scenario often causes decision makers to give up any hope of understanding the full field of techniques; they consistently use only one or two with which they are familiar, whether these techniques are appropriate for the forecasting situation or not.