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Sales Prediction with Time Series Modeling - …
Sales Prediction with time Series Modeling Gautam Shine, Sanjib Basak I. Introduction Predicting Sales -related time Series quantities like number of transactions, page views, and revenues is important for retail companies. Our work focuses on the revenue data for a US-based online retail company (Digital River, Inc.) that is responsible for the ecommerce platform of its clients. As online Sales are increasing at a massive rate, accurate Prediction of Sales allows the company to properly prepare for handling the shocks to product stock, website traffic, and customer support. During the 3 biggest days Thanksgiving, Black Friday and Cyber Monday the company earns about 10% of the revenue of the whole year, so it is considered a leading indicator of overall Sales . Predicting revenue on special days such as this is especially challenging, as those are usually large spikes ( anomalies) compared to normal days. For example, gross Sales on Black Friday are usually more than 10 times of the median Sales of the year.
Sales Prediction with Time Series Modeling Gautam Shine, Sanjib Basak I. Introduction Predicting sales-related time series quantities like number of transactions, page views, and revenues is ... P.A. Fishwick, Time series forecasting using neural networks vs Box-Jenkins methodology, Simulation, Vol. 57 (1991) pp. 303-310.
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