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Background When forecasting unconstrained consumer demand for products in retail, historical sales data analysis is an important part of generating a demand forecast. In order to predict future demand, past sales performance of products is considered as an indication of future performance. For seasonal items that sell mostly during specific months of the year, this…
Purpose In early 2020 Blue Sky Retail Solutions LLC and Heavy Tools, a Central European sporting goods fashion retailer, have entered into an agreement to pilot Blue Sky’s PlanR based merchandise financial planning cloud solution. The scope of the agreement was to convert Heavy Tools’ historical retail financial data, including multi-year historical transaction data, merchandise…
PlanR forecasting is based on historical data using full range Auto Machine Learning methods. Forecast accuracy is automatically evaluated and optimized in iterative cycles.