Beverage Sales Forecasting Using AI｜RapidMiner

【 Background 】

       This is a case of beverage sales forecasting. The client needed to analyze and predict product sales performance and develop short-term sales plans. By leveraging AI data analysis, this project built an AI sales forecasting model that converts daily sales data from the past six months into predictions for the next 1 to 2 weeks, providing the marketing team with references for planning sales strategies.

Further reading: Product Introduction – Altair RapidMiner

【 Results 】

• Successfully built an AI sales forecasting model trained using daily sales data from the past six months. The squared correlation coefficient of the model is 0.958, indicating very good accuracy.

• The AI sales forecasting model can provide estimated daily sales for the next 1–9 days.

• In this case, Altair AI completed the “sales forecasting” task within just a few minutes, and the forecasting model can also take into account various influencing factors beyond time, such as temperature, promotion strategies, price index, and more.

• For even better forecasting performance, the model can be further tuned and optimized in Altair AI to improve prediction accuracy and applicability.

【 Technical Features 】

• In Altair AI, the sales forecasting workflow is built by visually dragging, dropping, combining, and connecting functional blocks, making it easy to learn and highly efficient.

• Once the forecasting workflow is established, the AI prediction model can be trained. During this process, the model can be validated in parallel, with intuitive evaluation metrics and charts provided to ensure forecasting accuracy and model suitability.

• By further adjusting parameters and algorithms in the Altair AI forecasting workflow, different models can be quickly compared. The model with better prediction performance is then selected and optimized to obtain more accurate sales forecasts.

【 Youtube