To apply an LSTM model for sales forecasting, we'll first preprocess the data to fit the LSTM's requirements. This involves normalizing the sales data and transforming it into sequences suitable for time series forecasting. Then, we'll split the data into training and testing sets, design the LSTM model, train it on the sales data, and finally, make predictions for the next 12 months.
This process involves several steps and requires the use of deep learning libraries such as TensorFlow and Keras.