What is demand analysis and forecasting? What are the objectives of demand analysis? What is the significance of demand analysis and forecasting? Demand forecasting reduces risk related to business activities and helps it to take efficient decisions. Demand analysis is research conducted by companies that aim at understanding a customer demand for a certain product. It's widely used by businesses to find out whether they can successfully enter the market and obtain the expected profit. A good forecast is should provide sufficient time with a fair degree of accuracy and reliability to prepare for future demand, right? For firms having production at the mass level, the importance of forecasting had increased more. What are the features of good demand forecasting? A good forecasting helps a firm in better planning related to business goal, right? Don’t you want to forecast and analyse the demands in order to manage the demand of the product efficiently?

Saket Kumar

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