demand forecasting

Demand forecasting involves trying to determine the likely future need for an item, based on historical data and analytics showing how much of it has been needed in the past. For example, a grocery store needs to know roughly how many loaves of bread to order each week, and can forecast how many will be needed based on prior demand. AI-based demand forecasting can save significant resources through accurate determination of needs. This kind of predictive demand forecasting has been adopted by varied industries including manufacturing, retail, grocery, CPG, and more.