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Sales Forecasting
If your organization is still using point forecasts, allow Kromite to help you reach the next level of excellence in sales forecasting. By definition, the future is uncertain. Kromite’s approach allows clients to capture the uncertainty in a systematic manner rather than using optimistic and pessimistic forecasts. 
Kromite utilizes a number of methods to develop sales forecasts:
- Judgmental Forecasting - products with a lot of uncertainty
- Regression Forecasting - products with some supplemental data (e.g., historical promotional spending, prices, sales force level, etc.)
- Time Series Forecasting - seasonal products with some historical or analogue data
When a substantial level of uncertainty is present (product profile, competitive landscape, market share….), Kromite develops a judgmental forecast for the product under consideration. In nearly every case, we start with a market forecast to help our clients understand the current market dynamics and potential sources of market share. A thorough analysis of competitive landscape allows us to determine future sources of competition as well as potential pricing pressures. In case of pharmaceutical products, Kromite can start with audit of patient data, or, combine the two to check the starting assumptions. We validate all assumptions by triangulating different data sources and capturing all uncertainties. Kromite can perform independent research for all key assumptions in sales forecast thus freeing our clients to oversee the process.
Kromite works with only parameterized models that can assess changes in assumptions in seconds. Our models generally have a long shelf life since they already capture future uncertainties and are designed to be easy to use. 
In addition to sales forecasts, Kromite offers:
- Market share models that determine the market share of products based on its profile relative to competitors
- Comprehensive patient flow models for the pharmaceutical market
Kromite also provides ForecastGenie™, one of the most robust yet flexible sales forecasting models in the industry. It enables users to develop market and product forecasts in hours for one or more country. For more information, please contact us.
