Sales Forecasting using Machine Learning Project
Sales predicting is essential for businesses to foresee upcoming revenue, handle explorations and create strategic decisions. Here Machine Learning (ML) enhances the accuracy and performance of sales detection.phddirection.com is a dedicated concern where we guide scholars to succeed in their academic career. All types of machine learning projects that you encounter are solved by us easily. Our quality of work for sales forecasting ML project is enhanced with our professional guidance where you can present your paper confidently to research community. Topic selection till paper publication we are supporting for PhD and MS candidates.
Here are the processing steps that we include to construct a sales forecasting project using ML:
- Define our Objective:
- We detect future sales for a limited duration frame, for example, daily, monthly and quarterly.
- Data Collection:
- Based on our business we collect previous sales data which includes routine sales patterns, monthly income and others.
- By gathering identical factors we make an effect on sales like marketing spend, promotional events, vacations and external factors such as economic signs.
- Pre-processing the Data:
- Handle Missing Values: To maintain the lost values, we suggest and eliminate the missing data points.
- Time-Series Decomposition: We mold the time sequences into directions, seasonality and residuals.
- Feature Engineering: In this process we design lag features, rolling averages and other temporal features.
- Data Splitting: By dividing data periodically into training, evaluation and test sets we make sure that no excess data from the future into the previous one.
- Exploratory Data Analysis (EDA):
- We visualize business directions over duration.
- By determining the seasonality figures like growth of sales during vacations we analyze.
- Correlation analysis with external factors assists us.
- Model Choosing & Training:
- Traditional Time Series Models: ARIMA, Prophet and Exponential Smoothing are good initial frameworks when we begin our work.
- ML Frameworks: Regression models, Random Forest, Gradient Boosting Machines and Neural Networks are the models we incorporate in our project. For time series data we utilize the LSTM and GRU which are particular kinds of Recurrent Neural Networks (RNNs) that provide us valuable insights.
- Hyperparameter Tuning: For optimal efficiency we adapt framework parameters on the validation set.
- Evaluation:
- For regression tasks we implement adaptable metrics like Mean Absolute Error (MAE), Mean Squared Error (MSE), Root Mean Squared Error (RMSE) and R-squared.
- To visually assess the robustness we compare plot actual with detected sales.
- We consider employing time series cross-validation methods such as rolling forecasts.
- Deployment:
- Apply our model into a creation platform like a business mechanism and dashboard.
- Making sure that we retrain our model with fresh data.
Project Extensions:
- Multivariate Forecasting: We implement extra data streams into the framework like website traffic, social media events and user’s feedback.
- Anomaly Detection: To predict uncommon sales designs those show data problems and perfect abnormalities (For example, extraordinary high sales due to viral marketing).
- Dynamic Pricing: Depending on the predicted demand we effectively fine-tune pricing.
- Inventory Management: For decreasing holding costs and avoiding stock-outs we optimize our discoveries based on the trade detections.
Limitations:
- Non-stationary Data: Sales data always change trends and seasonality that makes us violate the assumptions of a few models. So, we use approaches like differencing and models like Prophet for supporting.
- External Shocks: Unexpected activities such as natural disasters and pandemics cause certain impact on sales and are critical to our model.
- Model Complexity vs. Interpretability: The difficult frameworks like deep neural networks that offer better detections but it is tricky for us to understand than easy models.
Consultation with area professionals like sales managers and business experts provide us beneficial insights during feature engineering and evaluation of outcomes.
By this we make sure our model’s identity and applicability to real-world sales situations. Throughout research process we maintain a systematic flow that acts a stepping stone to success. For Sales Forecasting paper work we have professional writers who are experts in ML field.
Sales Forecasting using Machine Learning Thesis Topics
The best thesis ideas and thesis topics are guided only at phddirection.com for all domains of ML. After thesis writing we offer valuable tips to scholars along with brief explanation. We present the problem statement with utmost accuracy and clarity so that a remarkable impression will be made while reading the thesis.
1. Sales Forecast of Manufacturing Companies using Machine Learning navigating the Pandemic like COVID-19
Keywords:
COVID-19, Pandemics, Companies, Machine learning, Predictive models, Market research, Automobiles
Our paper uses ML based prediction of turnover of a company. Using ML technique, a next outcome will easily predict or corresponding to it. In the period of Covid19 an Indian automobile industry has been chosen for prediction of car sales. We can also predict the development of graphs by using different machine learning techniques in our project.
- A Machine-Learning Ensemble Method for Temporal-aware Sales Forecasting
Keywords:
Analytical models, Profitability, Oils, Stacking, Inventory management, Data models
Arima is a single forecasting model used to predict sales. Our paper suggests an ensemble machine learning methods by utilizing weighted XGBoost, ARIMA, and Holt-Winters for sales forecasting of grocery chain to discourse overfitting problem. Our work merges ML methods to decrease variance, bias and increase prediction. Our work also executes the exploratory data analysis (EDA) in grocery datasets and a lag and sliding window techniques are used.
- Machine Learning Based Restaurant Sales Forecasting
Keywords:
recurrent neural networks; transformers; TFT; LSTM; GRU; forecasting; restaurant sales prediction; time series analysis; multi-horizon forecasting
Our paper uses many ML models by utilizing real world sales data from a mid-seized restaurant. RNN method can be involved to compare many methods. The linear models with sMAPE can give the better outcome in one day forecasting. To train our model our paper uses three various datasets and contrast it with results. We achieved well with errors by using two RNN models, LSTM, TFT and ensemble models. RNN model gives the better outcome.
- Time-series forecasting of seasonal items sales using machine learning – A comparative analysis
Keywords:
Sales forecasting, Seasonal items, Neural network, Big data
Our paper uses some time series forecasting methods like Seasonal auto regressive integrated moving average (SARIMA) and triple exponential smoothing. We also used some innovative methods like CNN, LSTM, and Prophet. The achievement of these methods can be compared with some metrics Root Mean Squared Error (RMSE) and mean absolute percentage error (MAPE). LSTM method achieves better than other methods and prophet and CNN also gives better achievement.
- Using supervised machine learning for B2B sales forecasting: A case study of spare parts sales forecasting at an after-sales service provider
Keywords:
Supervised machine learning, Natural Language Processing (NLP), B2B sales forecasting, Prioritization on sales potential, Information Extraction, Imbalanced data
Our study proposed the B2B sales forecasting by utilizing advance demand information (ADI) in the form of request for quotation (RFQs) and we also uses supervised ML methods and Natural Language Processing techniques to examine it from RFQs. Our paper also includes AI in B2B sales forecasting.
- Statistical Sales Forecasting Using Machine Learning Forecasting Methods for Automotive Industry
Keywords
Business intelligence.
Using ML we have to discover more about predictive analytics and to get the better result for forecasting sales in automobile industry. Economic crisis, semiconductor ship shortage and pandemic situations are improved by the recent external impacting factor on automobile sales in our paper. First the model can be trained without impacting factors and it can construct using impacting factor.
- Predictive Analysis of Retail Sales Forecasting using Machine Learning Techniques
Keywords:
Regression, Gradient Boosting, ARIMA, Random Forest.
Citadel POS dataset and various ML methods are used in our paper to predict analysis of retail sales. The sale forecasting uses the regression methods like Linear Regression, Random Forest Regression, Gradient boosting regression were used and time series methods like ARIMA LSTM. XGBoost preforms best in time series and other regression methods performs better in RMSE and MAE.
- Forecasting of a Fashion Retailer’s Sales using Machine Learning through COVID-19
Keywords
Retail, COVID-19.
To forecast sales before, during and after covid19 our study uses ML methods. To get the better result we have to test the methods SARIMA and NNAR. The NNAR succeeded in forecasting normal and promotional sales period. In lockdown promotional efforts gives a less impact in customer behaviour and it can lead to increased stable sales.
- Sales Forecasting Using Machine Learning Models
Keywords:
Data Mining, Arima mode, Seasonal naïve Bayes, Exponential smoothing.
Using ML we have to examine the concept of sales data and sales forecasting. We have to examine the data by utilizing different time series methods such as Arima model, Benchmark method (seasonal Naïve Bayes) and exponential smoothing method. The forecast data are compared to each method and the Arima model gives the better outcome.
- Sales Forecasting Using Machine Learning Techniques
Keywords:
Sales Data, Mining Techniques.
.We used both conventional regression approach and bosting methods. Our aim is to expect the sales of various stores by using ML methods. To make use of accurate prediction model and get trustworthy result to do well organized sales prediction analysis. Our result can get accurate, precise and useful forecasting data.
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