How can I improve demand forecasting accuracy for my business?
An example of an AI chatbot conversation about improving demand forecasting accuracy.
How can I improve demand forecasting accuracy for my business?
Improving demand forecasting accuracy involves using historical data, market trends, and advanced analytics. Have you considered using machine learning models?
I haven't used machine learning yet. What are some basic steps to get started?
Start by collecting historical sales data, then clean and preprocess it. Next, choose a simple model like linear regression to predict future demand.
What tools or software do you recommend for this?
Popular tools include Python with libraries like Pandas and Scikit-learn, or platforms like Tableau for visualization.
How often should I update my forecasts?
It's best to update your forecasts regularly, such as monthly or quarterly, to reflect new data and market changes.
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