Data issue for forecast daily sales

rmachinelearning
machine_learning
arima
data_science
prophet

#1

I have less than 1 year data, When i forecast next 7 days sells and match actual sell then difference between forecast sell and actual sell is very high.
I used prophet package in R.
So my question is for forecasting next 7 days sells data is enough or not???


#2

Hey
Although it is true that data is not enough but we can still use it to predict approximate sales for the next 7 days. You can read more about forecasting from these links.
Link1 - https://www.analyticsvidhya.com/blog/2015/12/complete-tutorial-time-series-modeling/
Link2 - https://www.analyticsvidhya.com/blog/2016/02/time-series-forecasting-codes-python/


#3

Can you tell me how i improve forecast efficiency ??


#4

Do you mean forecast accuracy ?
If yes then you can try tuning the parameters of the model and compare the RMSE on your test set.