One of the biggest challenges retailers face is determining how much product inventory and what types of products they need to have on hand in order to meet the expected demand from consumers. In general, retailers are constantly struggling to match inventory with demand, because they can’t accurately predict how the market will change and what buyers’ habits will be in the future.
Fortunately, technology such as automated machine learning and advanced analytics are available to greatly enhance retailers’ ability to predict future demand for goods. These tools provide managers with unprecedented insights about demand, so they can make informed decisions that could potentially save their companies tremendous amounts of money.
This white paper looks at some of the challenges retailers are facing today and how automated machine learning solutions can help them address these hurdles and improve business results.