Adding a pandemic index to the Sales forecast
Last Updated on July 26, 2023 by Editorial Team
Author(s): Okoh Anita
Originally published on Towards AI.
How I adjusted sales demand forecast by developing an index using casual inference
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2020 was a shock wave for the world, especially for existing machine learning models in production and their ability( or lack of) to forecast correctly future business demands. Businesses either profited from this drastic change( significantly or otherwise) or suffered from it. This made the results of demand forecast models overestimate or underestimate demand than usual.
An excellent approach to mitigate these estimations is to create an index that captures this drastic change and include it in the model forecasts.
It is good to note that the 2020 shock… Read the full blog for free on Medium.
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