Smart Retail: Harnessing Machine Learning for Retail Demand Forecasting Excellence
Introduction to Retail Demand Forecasting Retail demand forecasting is a critical aspect of the retail industry that directly impacts inventory management, sales performance, and overall profitability. Accurate demand forecasting allows retailers to optimize their inventory levels, plan for promotional activities, and efficiently allocate resources. Historically, demand forecasting has been a complex and challenging process, with traditional…
Biswadip Banerjee
An Introduction to Exponential Smoothing for Time Series Forecasting
Introduction to Exponential Smoothing: Exponential smoothing is a widely used time series forecasting technique that is particularly useful for forecasting data with a trend and/or seasonality. It is a simple yet effective method for smoothing out noisy data and making short to medium-term predictions. What Is Exponential Smoothing? Exponential smoothing is a time series forecasting…
Asmita Kar