How can I improve my demand forecasting process?
An example of an AI chatbot conversation about improving demand forecasting techniques.
How can I improve my demand forecasting process?
Improving demand forecasting involves using historical data, market trends, and advanced analytics. What specific challenges are you facing?
I'm struggling with seasonal fluctuations in demand.
Seasonal fluctuations can be addressed by incorporating seasonal indices into your forecasting model. Have you tried using time series analysis?
Not yet, can you explain how that works?
Sure! Time series analysis involves analyzing historical data points collected over time to identify trends and seasonal patterns. This can help you predict future demand more accurately.
What tools can I use for time series analysis?
There are several tools like Python with libraries such as Pandas and Statsmodels, or software like Tableau and Excel that can help with time series analysis.
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