Demand Forecasting Mistakes in the Retail Industry

We would like to share a new by insidebigdata.com again.  There are lots of articles / news flooding around the internet but most of them are related to advertisement or sponsored organization.  We filter the valuable information for our audience only.  For the article shared, it is showing some clues on analytics at the retail industry by Aaron Hoffer, Lead Data Scientist for Alloy.

He discusses common problems in forecasting processes, and the importance of focusing on “true demand” by his experiences.  He suggests from micro scale by shops demand rather than sales forecast for the whole organization to avoid the boost of inventory with wrong forecast results.

Please find out more clues below – worth to read for both data scientists and managers:

https://insidebigdata.com/2018/09/03/demand-forecasting-mistakes-retail-industry/

The above article is highly recommended by our professional service team.

 

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