This paper reviews and analyses the current studies on the existing sales forecasting techniques, and extends them to the search for new innovative methods of prediction. Sales forecast is traditionally considered to be one of the most important parts of any businesses’ operations, as the accurate predictions reveals the various risks and provides valuable possibilities to make adequate decisions for a range of the corporate issues. Proposed by the author, the method of Monte Carlo simulation is successfully adopted to various scientific fields and industries to solve a wide range of the tasks. Due to this fact, the paper presents this technique as a new potential method for conduction of sales forecasts. Comparison with the other forecasting methods demonstrates some feasible advantages of using Monte Carlo. In addition, the paper provides some comments on appropriability and limitations of use of the new technique.

This paper reviews and analyses the current studies on the existing sales forecasting techniques, and extends them to the search for new innovative methods of prediction. Sales forecast is traditionally considered to be one of the most important parts of any businesses’ operations, as the accurate predictions reveals the various risks and provides valuable possibilities to make adequate decisions for a range of the corporate issues. Proposed by the author, the method of Monte Carlo simulation is successfully adopted to various scientific fields and industries to solve a wide range of the tasks. Due to this fact, the paper presents this technique as a new potential method for conduction of sales forecasts. Comparison with the other forecasting methods demonstrates some feasible advantages of using Monte Carlo. In addition, the paper provides some comments on appropriability and limitations of use of the new technique.

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