The client was looking for a solution to
optimize their marketing expenses for product promotions and assist the sales
team with planning future activities and estimating demand.
Our goal for this project was to develop a tool
that would enable the customer to efficiently access statistical models based
on his datasets to address specific issues. For instance, this tool could be
used to predict sales, demand, and simulate marketing strategies to increase
the net volume of sales.
We employed a time series regression analysis
approach and conventional ARIMA models as well as a modified LSTM deep learning
network to gain valuable insights on sales drivers and provide the client with
accurate predictions. Additionally, we created a dashboard that automatically
updated models and forecasts in response to new data being uploaded.
RESULTS & ADVANTAGES
Received sales prediction enabled FMCG company
to identify potential problems or risks and implement necessary corrective
measures to mitigate them.
In essence, sales forecasts are a profitable
investment, because they assist companies with sales planning, demand planning,
inventory management, financial planning, internal control, gaining insights,
and marketing advantages.