Time Series Sales forecasting- Techniques and Approach

time_series
forecasting

#1

shivani.sgv

< 1m
 kunal

Hi @kunal ,

Need to ask 3 questions:
Q-1) I want to forecast automotive industry growth? What should be the algorithm to be used?
Q-2) Also for forecasting company internal sales data what all factors and time series technique can be used?
Q-3) Which technique is used when we have explaining variables(more than 1) along with the sales data?


#2

Hi @shivani.sgv

one good source could be the Rossman competition forum on Kaggle :slight_smile: Very good source

Have fund
Alain


#3

Shivani try to be specific while asking question. It ll help you in the end. Anyways to understand growth, you can use time series analysis or linear regression can also helps (specially if you are new to data science, as you can do regression with excel too). Regarding time series, check this link out http://www.analyticsvidhya.com/blog/2015/12/complete-tutorial-time-series-modeling/

if you have no variables beside sales, you can pick time series & if you have more variables in addition to sales, you can try regression. Hope it helps


#4

Hi @shivani.sgv,

Please go through the below links in order to get a better understanding of time series models:
https://onlinecourses.science.psu.edu/stat501/node/357
https://www.otexts.org/fpp

Along with the link in AV I hope these will give you a good idea about what to use.


#5

Hi
I have sales data and data of macroeconomics data. Which forecasting
technique I can use? ARIMAX ?


#6

Please provide solution.