AI and Retail Demand Forecasting Part 2: By only paying attention to historical data, retailers are only seeing part of the demand story

Historical sales data, even when combined with seasonal data, is no longer enough. AI technology predicts sales and drives enhanced forecasts based on real-time data using internal and external influences including demographics, weather, performance of similar items and even online reviews and social media.

In part two, Brian discusses:

  • Why in-store sales are now only part of the story
  • The increasing importance of on-transactional data
  • How AI can understand, interpret, and apply new data sources data to the forecast

Stay tuned for part three, where Brian will examine how AI-enabled solutions are making reliable and accurate forecasting available to all.

For more information, read the new Viewpoint: Improving Forecasting Accuracy in an Age of Retail Disruption.

Watch the other vodcasts in the series:

Part 1: How new technology and AI have changed the game and the impact of multi-channel fulfillment

Part 3: Evaluating the hype around AI and retail business transformation

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