Forecasting

What is Forecasting?

Forecasting is a systematic process of predicting or estimating future events, trends, or outcomes based on historical data, statistical analysis, and expert judgment. It involves analyzing past data patterns, identifying relevant factors and variables, and using this information to make informed projections or forecasts about future conditions or developments.

For forecasting in NetSuite, ZoneReporting helps finance teams visualize all their ERP data in Power BI so they can analyze it and accurately plan and project for the future.

Related terms

Customer Acquisition Cost (CAC)

Customer Acquisition Cost (CAC) is the total amount of money a company spends to gain a new customer.

Customer Lifetime Value (CLV)

Customer lifetime value (CLV or CLTV) is a metric that estimates the total revenue a business can reasonably expect from a single customer account throughout the business relationship.

Daily and Weekly Aged Debtor Analysis

Accounts receivable aging is the process of calculating and comparing the debts your company is owed based on how long it takes creditors to pay them. This number is typically expressed in days or weeks.

Data Mining

Data mining is the process of uncovering patterns and extracting valuable information from large sets of data. It's like sifting through a gold mine of information to find hidden gems of insights.

Days Inventory Outstanding (DIO)

Days Inventory Outstanding (DIO) is a working capital management metric that measures the average number of days a company holds onto its inventory before selling it. In other words, it tells you how long it typically takes for your inventory to be converted into cash through sales.

Days Sales Outstanding (DSO)

Days Sales Outstanding (DSO) is a financial metric used to measure the average number of days it takes a company to collect cash from its customers after a sale is made on credit. In simpler terms, it tells you how long, on average, it takes for your company to convert credit sales into actual cash.