Forecasting Seasonal Sales in Power BI and Excel

Thursday, January 30, 2025

Forecasting sales is crucial for businesses as it provides a roadmap for planning and decision-making.

If you’re a seasonal business, forecasting becomes even more important since your risk of going out-of-stock or over-ordering is higher. Join me in this casual meeting as we discuss how to do seasonal forecasting in Power BI.

What we’ll discuss

  • What is a seasonal forecast? What does it mean to decompose a seasonal forecast?

  • How to use the built-in forecasting tool inside Power BI and where it fails us.

  • How to code your own seasonal forecast for every product you offer.

Benefits of Forecasting

1. Inventory Management

  • Avoids overstocking or understocking, helping optimize inventory levels.

  • Reduces storage costs and minimizes the risk of obsolete inventory.

2. Financial Planning

  • Provides insights for budgeting and resource allocation.

  • Helps in anticipating cash flow needs and managing capital effectively.

3. Staffing and Operations

  • Ensures adequate staffing during peak sales periods and avoids overstaffing during slow seasons.

  • Helps align operational capacity with demand, improving efficiency.

4. Strategic Planning

  • Identifies trends and allows businesses to respond to market changes proactively.

  • Supports long-term growth strategies and resource allocation.

5. Customer Satisfaction

  • Helps ensure that sufficient stock is available to meet customer demand, enhancing customer experience and loyalty.

6. Risk Mitigation

  • Anticipates potential challenges like supply chain disruptions or seasonal fluctuations.

  • Enables contingency planning to manage uncertainties effectively.