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AI-Powered Demand Forecasting for Retail & E-Commerce

Applicable Industries

Retail & E-Commerce
Consumer Goods & FMCG
Grocery & Perishable Goods
Apparel & Fashion

Technologies Used & Their Role

Machine Learning Models:
XGBoost, Prophet
Scalable Forecasting:
AWS Forecast
Data Processing & Storage:
BigQuery
Business Intelligence & Reporting:
Power BI

Summary of the AI Solution

Retailers and e-commerce businesses face inventory challenges due to inaccurate demand forecasting, leading to overstocking, understocking, and lost sales opportunities.

Our AI-Powered Demand Forecasting System predicts future demand by analyzing historical sales, seasonality trends, and customer behavior, ensuring optimized inventory management and improved revenue forecasting.

Problem Statement

Traditional demand forecasting methods are:

Inaccurate & Reactive – Cannot adapt to shifting market trends.

Costly & Inefficient – Overstocking leads to excess inventory costs, while understocking results in lost sales.

Lack Data-Driven Insights – Retailers struggle to interpret demand fluctuations and predict peak periods.

A data-driven AI solution was required to enhance forecast accuracy and optimize inventory planning.

Solution Approach

We developed an AI-driven demand forecasting system that:

Analyzes Historical & Market Data
– Uses XGBoost & Prophet to detect sales patterns, seasonality, and trends.

– Incorporates external factors like holidays, promotions, and regional demand shifts.
Predicts Demand with High Accuracy
– Leverages AWS Forecast for scalable predictions across large datasets.

– Ensures dynamic adjustments based on real-time data.
Optimizes Inventory & Supply Chain Planning
– Prevents overstocking & stock-outs s by providing data-driven recommendations.

– Reduces wastage & holding costs, improving profit margins.
Visualizes Insights for Strategic Decision-Making
– Power BI dashboards provide real-time demand forecasts.

– Helps teams make informed procurement, pricing, and marketing decisions.

Key Benefits & Value Proposition

30% Improvement in Forecast Accuracy – Reduces inventory losses & stock-outs.
20% Lower Holding Costs – Optimizes stock levels & warehouse efficiency.
Enhanced Supply Chain Resilience – Helps mitigate demand fluctuations.
Data-Driven Business Strategy – Enables proactive pricing & procurement decisions.
Scalable & Automated – Supports multi-store, multi-region forecasting.

AI-Powered Demand Forecasting for Retail & E-Commerce

Applicable Industries

Technologies Used & Their Role

Summary of the AI Solution

Problem Statement

Solution Approach

Key Benefits & Value Proposition

Request a Demo to Watch It Live in Action and Try It on Your Datasets.

Primary Services

Pre-Built Applications

Data & AI Solutions

ThirdEye Exclusive

Insights

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