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Use probability to forecast your sales

Today's online edition of Canadian Business magazine features an article by Dominic Rubino on the importance of accurate sales forecasting. The premise is simple: rather than forecasting sales based on purchase orders (using the example given by the author), factor in the probability of each value-adding scenario and multiply it to the value of the order. Tallying these figures up will then give you a more accurate forecast and as a result you'll waste less time, money and real esate space on excess inventory that couldn't sell.

Read the complete article, "The Crystal Ball of Sales."

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