Furniture_Sales_Forecast_TimeSeries

Furniture Sales Forecast

Every business owner’s objective is to estimate the future trends – in terms of sales, profits, gains etc. To do this analysis, the owner first has to segregate the data by category and analyze each entity separately. For each entity, a forecast can be estimated based on the past sales of that entity. The idea behind this is to find out the popularity of a certain product and how its sales can impact the business. Every product category is unique and cater to different customer base. So the analysis cannot be generalised that one trend is applicable to all products. A thorough insight into the past performance will reveal a lot of components that will enable the business to identify the trends.

BUSINESS OBJECTIVE:

Build a forecast model to predict the furniture sales of a certain store