Retail

Retail

A leading fashion retailer wants to forecast future demand based on market trends and analysis powered with Artificial intelligence.

Client Challenge:

To forecast future demand of products based on market trends, shopping behavior, spending, geographical, age and gender of the client. 

Solution:

We proposed an Artificial Intelligence based solution for predictive analysis for future demand based on past data and current trends captured from fashion sites and social media. Past data of six months collected from different in-house sources and after cleansing different models were applied to the test data till the time it comes to the target level. Another set of data obtained from social media sites and after data cleansing applied the most accurate model to it. Based on the model prediction, predictive analysis reports are prepared which are showcased in the different dashboards based on multiple categories. These reports are published to management for future planning, forecasting, production, and marketing.

Return of Investment:

  • Better management of sales forecasting going forward with enhanced Dashboards, powered with Artificial Intelligence.
  • Analysis of existing data gives an insight into management for better future planning.
  • Increase in sales due to proper forecasting based on artificial intelligence. 

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