The AI-Powered Demand Forecast Application is tailored to cater to the needs of micro and small-scale businesses, providing them with a robust solution for precision demand prediction.
This innovative web-based tool harnesses the capabilities of both classical and advanced machine learning algorithms to analyze historical sales data, taking into account factors like variability and seasonality, resulting in highly accurate forecasts of future demand.
The application boasts a user-friendly and intuitive interface, enabling users to effortlessly import their datasets from Excel and access optimal forecasts through a selection of predictive models, including ETS, ARIMA, Prophet, Random Forest, and SVM. The tool’s intelligent algorithm automatically determines the most appropriate model for each product, ensuring accuracy.
Upon the completion of the training process for these models, the application offers clear and interactive visualizations, presenting predicted demand trends over time. These insights empower businesses to make well-informed decisions concerning production, inventory management, and supply chain operations, ultimately driving efficiency improvements and cost reduction.
The Demand Forecast Application proves particularly valuable for businesses in the midst of digital transformation endeavors, as it assists in resource optimization. Its primary focus is on delivering dependable demand forecasts, thereby maximizing business performance in the ever-competitive marketplace.
Key features of the application encompass the ability to view historical data presented in both tabular and graphical formats, forecasts for demand spanning a maximum 12-month horizon, automatic detection and imputation of outliers and missing data, an intelligent model competition mechanism that supports up to 5 model families, model selection based on performance, key performance indicators for the prediction system (MASE and MAPE), support for handling up to 100 distinct products or SKUs, continuous updates, and complimentary email support.