Sales forecasting
Based on quarterly and yearly marketing, sales and product plans, companies need to be able to forecast their sales for the quarter and year both to help forecast their financial performance, but also to be able to make hiring, product, R&D, etc. decisions.
Overview
Forecast next quarter’s/year’s sales based on the marketing, sales and product plan.
TARGET
Number of sales.
Challenge
To correctly model the sales based on marketing, sales and product plans, all of the sales data needs to be aggregated into total sales from the CRM and this needs to be tied into the existing marketing, sales and product plans active during that time. The more detailed this plan data, including the effectiveness of the prior plans needs to be aggregated. Finally, all this data needs to be cleaned, joined and transformed into valuable ML features before going into model training. This pre-modeling prep process can be frustrating and time consuming. We are here to help.
Modeling techniques and libraries
Sales prediction
Build machine learning models using standard techniques (from linear regression to more advanced machine learning algorithms) to predict sales. Using this model, forecast next quarters sales based on the plans from marketing, sales and product.
Package:
- Sklearn
