The essential elements are summarized as follows: Laying the foundations: It conducts a systematic analysis of products, companies, and industries. Forecasting Future Sales: This comes after a well-defined strategy for determining future expectations in the presence of organic engagement with senior managers. Comparison Between Actual and Predicted Results: Regularly comparing actual and expected company performance and determining the causes of significant variances.Improving the Forecasting Methodology: Improving the strategy and improving the technique becomes very simple once experience with predicting the direction of the firm has been achieved via practice.