In PredictLand we have successfully applied Artificial Intelligence to forecast the demand for totally different products in the food and beverages sector.
This is thanks to the fact that, unlike classic demand forecasting algorithms that only allow working with sales data, AI algorithms allow incorporating more information into the models, such as data related to product taste, nutritional properties, promotional campaigns, etc.
On the other hand, we have used AI to segment or group products based on their intrinsic properties, taking advantage of the fact that AI algorithms are capable of finding patterns that exceed human intuition. The fact that these groupings are totally related to other product properties, such as sales data, means that segmentation brings undoubted added value to businesses. In addition, this information has been combined with demand forecasting algorithms, helping to increase their accuracy and, above all, allowing sales to be predicted for products with little history, for which classic forecasting methods fail.
Javier Chasco Echevarría - I4.0 Responsible at BSH Electrodomésticos, Esquiroz (Navarra)
Data is the answer
We apply Data Science in business to address current needs and predict future outcomes.
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