What is Demand forecasting?
Demand forecasting predicts future demand using historical data, seasonality, trends, and known business events. It turns uncertain demand into a usable planning basis. Good models provide more than a point estimate by exposing uncertainty and exceptions.
Practical example
A model detects the recurring Black Friday peak, corrects stockout-distorted history, and includes a planned campaign.
What teams should remember
- Demand forecasting predicts future demand using historical data, seasonality, trends, and known business events.
- It turns uncertain demand into a usable planning basis. Good models provide more than a point estimate by exposing uncertainty and exceptions.