Prediction Model to Estimate Product Sales of a Fortune 100 Firm During a Specific Campaign Period

Business Challenge:

The client was a Fortune 50 technology firm and worldwide leader in software, services and solutions. The client used to periodically offer promotions on products for a limited period to enhance sales.

The client approached TurnB to predict the sales of products for the period in which they plan to offer discount.

TurnB Approach:

We collaborated with the client to create a prediction model and estimate sales during a specific campaign period using the following approach:

  • Extracted historical sales data related to products from the customer database
  • Performed data audit to check for missing values and normalized/eliminated the outliers
  • A predictive model was designed to predict sales of products for the offer period

Implications:

  • The sales of products during the offer period were predicted
  • The client was able to plan the inventory in a better way which helped in maximizing the sales during campaign period
  • The estimates helped the client to understand the impact of sales on the revenue and profits for the campaign duration