Forecasting is a method used by marketers and salespeople for estimating how future strategy might deliver on its objectives, by looking to similar campaigns from the past as a benchmark of performance using available historical data.
Marketing forecasting will allow you to estimate what each channel could potentially deliver for the available budget, using historical metrics like CPC, conversion rates, and CPA, if these metrics were to remain the same. It’s not a perfect predictor of future outcomes, but it can help with the KPI setting.
Sales forecasting can help you predict your revenue and plan ahead accordingly to make better business decisions. Some sales forecasting metrics include historical conversions, CRM Score, sales activity data, quota, pipeline coverage, etc.