By Maria Bastero
Content Manager at Marketing4eCommerce
ANDNowadays, demand prediction has become an essential tool for planning and executing operations .
This practice allows companies to make informed decisions about everything from stock-outs, inventory management, or even supply chain efficiency. But if we talk in terms of digital marketing, without a doubt one of its best qualities is the ability to predict returns on campaigns and channel attributions . In short, a key aspect for any brand that wants to increase its profitability in terms of business.
However, the numerous factors that influence market vietnam number data and consumer behaviour make this task a challenge for companies, which find in analytical consultancies the perfect partner for the correct development of their projects.
The basis of prediction models
Demand prediction models are based on the analysis of historical sales data or specific objectives of each organization that, using advanced data science techniques, identify hidden patterns in the data.
In this context, the use of Advanced Analytics makes it possible to deal with the complexity of prediction, especially in environments with a high volume and type of products, such as an eCommerce.
These advanced algorithms and models based on Machine Learning and artificial intelligence have become one of the most powerful tools for companies that, combined with other simpler models – with traditional statistical approaches – offer a perfect solution for more complex business environments.