Prediction model to estimate product sales of a Fortune 100 firm during a specific campaign period
The Business Challenge
Client is a Fortune 50 multi-national technology giant and the worldwide leader in software, services and solutions. Client periodically offers a promotion on a product for limited period of time to promote its sales. Objective of this project was to predict the sales of a product for the period in which they plan to offer discount.
The TurnB Approach
- Historical sales data related to products were extracted from the customer database.
- Performed data audit to check for missing values and normalize/eliminate the outliers.
- Predictive model was designed to predict the sales of products for the offer period.
- Sales of products were predicted for the offer period.
- Client was able to better plan the inventory which helped in maximizing the sales during campaign period.
- Estimates helped the client to understand the impact of sales on the revenue and profits for the campaign duration.