Automated Predictive Reporting, made possible with TIM
Retail Sales & Scenario Planning
Automated Predictive Reporting, made possible with TIM
This dashboard helps you to forecast across multiple stores and at the same time for different scenarios.
Use Case Objective
In this use case we want to optimize the decision making process in the food retail business. This example shows how TIM can scale up across multiple dimensions and at the same time perform scenario planning to assess the effect of different promotions.
With TIM you can now easily forecast multiple products across multiple stores and plan your promotions to increase revenue.
This data set contains sales information of 77 stores where 51 different products are sold. For this demo we selected the top 4 stores and their top 5 products resulting into 20 combinations to focus on however we can easily scale this up. This means we will forecast on the lowest possible level (each unique store-product combination).
How TIM makes this easy
TIM makes hundreds of unique, high-quality and insightful models fully automatically and very quickly.
TIM manages and maintains these models automatically and dynamically.
Data science complexity is removed.
You have a fully automatic and reliable AI/ML solution to improve your daily decisions and planning.
Explore this dashboard now
Experience the power of InstantML for time series forecasting yourself.
The business value coming from TIM in this use case is two-fold:
1. Improved logistics: with InstantML you can more accurately forecast the weekly number of units sold. With this information you can reduce safety stock & manage the bullwhip effect.
2. More effective promotions: InstantML provides a data driven solution to help you decide on a SKU level which promotion to apply and when.
Input Data
Dimensions: store number & product number
Target: number of units sold
Predictor candidates: price information & promotions
Output
Predictions & Accuracy validation
Insights: Predictor & Feature Importance
Pricing & Promotion Analysis
Automated Scenario Planning
TIM Configuration Settings
Sampling rate: weekly.
Moment of forecasting: once every week.
Forecasting horizon: 4 weeks ahead.
TIM Engine settings: max complexity & all mathematical features.
Explore this dashboard now
Experience the power of InstantML for time series forecasting yourself.
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