Artificial intelligence used for sales forecasts

Why would it be useful to predict future sales and take the steps needed to rebalance or maximise profits?

Businesses today have to cope with a highly competitive market.  Business strategy needs to be validated at all times so that company targets are achieved and to check that the decisions made are in line with what has been agreed. Therefore, all the aspects that make up a business, from marketing, financial and operational decisions, resource management and many more, should be borne in mind.

The key to being able to rectify in time is giving business the tools that help them to predict sales and confirm that they get the expected results. Detecting small deviations gives the opportunity to analyse all the information and take the steps needed to correct errors or maximise profits.

If they do not have the suitable tools, businesses prepare their sales forecasts for the following year using Excels, with simple mathematical formulae which lack precision and do not use the variables affecting sales.  A good forecast helps to optimise the supply chain, the purchasing process and stock, which is a great help to businesses.

Solutions based on Machine Learning help to predict the future, using mathematical formulae which are much more complex and precise. Using past and present data, Machine Learning solutions help to:

Reach business targets.

Identify small deviations.

Detect when a client is about to leave us.

Launch more tailored marketing campaigns for each client type.


Related Posts

Business Intelligence as a key tool for human resources

An increasing number of clients come to us with common needs, given that over the past few years Human Resources experts have taken the importance of metrics and, of course, technology, seriously, as one is reliant on the other. Although it is true that Human Resource were technologically abandoned for a long time, this is […]

Welcome to our new web site!

We offer you a more dynamic, intuitive web site, with a more up-to-date, modern and technological design, which is far more suitable for the sector we operate in. So, what will you find on our web site from now on? It is a space designed so that you can find out about all we have […]

Travel/ie: the first platform for the travel industry that combines AI, ML and Big Data

This technology allows distributors to optimize the management of their products, detect behavior patterns and make personalised offers for each client based on their preference of destination, date or type of accommodation Barcelona, 14 de febrero de 2020.- Mind Analytics, start-up española especializada en analítica de datos para optimizar la toma de decisiones en la […]