A Data Science Application: Sales Forecaster

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Sales forecasting is the process of estimating what your business’s sales are going to be in the future. Sales forecasts are usually based on past sales data, trends, and the status of the current sales pipeline. Sales forecasting is a core part of business management and marketing. Without a reliable guess of what your future sales are going to be, you cannot manage your inventory or your cash flow or plan for growth. The purpose of sales forecasting is to provide information that you can use to make intelligent business decisions. 

Sales forecasting is a multi-parameter problem. There are many details such as sector, season, economy, special days, and country in the estimation of the product or service sold. Many algorithms have been developed for estimation in time series, but due to the complexity they contain, these algorithms take a long time to apply even by experts. Predicting sales may not seem easy and reliable in such a multi-parameter world. Based on past sales data, it is possible to analyze seasonality, trend, irregularity in detail and predict your sales within the confidence interval that you have defined. State-of-the-art artificial intelligence models that help to make strategic actions in marketing, are the most important part of the decision support system.

In KalybeAI we develop sales forecasting systems that take into account holidays, special days and much more help make the most reliable and special decisions for you. Also, historical data on the frequency you set for the sales forecast is considered and the forecast period can be weekly, monthly, quarterly, semi-annually, or annually. It is possible to make predictions only on the sales of selected regions, cities, and distributors. Also, an entropy score is returned for predictability of the time series. Based on this score, the success of the forecast can be interpreted. In summary, the sales forecaster can be flexible and offer the most consistent solutions, considering all possible specific situations that belong to you.