Machine-learning Sales Forecasting: A Review

Abstract

The production of precisely the required quantity of goods at precisely the correct moment is the objective of every sector. A forecast is formed through the utilization of information from previous efforts and the examination of identified characteristics in the future. Demand forecasting plays a critical part in the planning process and sales strategies for every firm to examine past and current sales figures and estimate possible outcomes. Overall, precise sales forecasting allows the organization to function more efficiently and productively, to save expenditure on forecasts or projections. This research attempts to explain how machine learning algorithms may assist with sales forecasts and future sales projections. It will also show methods to boost forecasting accuracy relating to the prevalent uncertainties.