Sales Forecasting Optimization
A publicly traded company that manufactures water and fuel systems (including motors, pumps, controls, and electronics) was facing challenges with inaccurate AI sales prediction models. The forecasts were misaligned with true customer demand, leading to operational inefficiencies across various markets, including residential, commercial, industrial, and municipal. InData Labs conducted a series of targeted consulting workshops with the client's internal data and engineering teams, focusing on two main areas: data analysis and machine learning (ML) model assessment. On the data side, the team carried out correlation and distribution analyses, data integrity verifications, dataset segmentation for distinct model training, and sophisticated feature engineering. Regarding the model aspect, InData Labs evaluated the current forecasting framework and provided recommendations related to model selection, target variable scaling (such as price increments versus raw prices), and hyperparameter tuning. The deliverables included a detailed report on feature correlations and dependencies to support future model training, newly constructed and tested ML forecasting models with documented performance metrics, and a report with actionable recommendations to enhance data quality and predictive accuracy. Full Case Study: https://indatalabs.com/resources/sales-prediction-models