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

Business Challenge:

The client is a Fortune 50 multi-national technology giant and the worldwide leader in software, services and solutions. The client periodically offers a promotion on a product for a limited period to promote its sales.

The client approached TurnB to predict the sales of a product for the period in which they plan to offer discounts.

TurnB Approach:

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

• We extracted historical sales data related to products from the customer database
• Performed data audit to check for missing values and normalize/eliminate the outliers
• A predictive model was designed to predict the 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