In the 21st century, nothing will be impossible .Anyone can do anything due to the digital era. We know that, for every business, sale is one the most important factor as it is directly proportionate with company profits and losses. Hence most of businessmen are interested in forecast of the sales of organizations. Previously, it is used to be done by manual processes using balance sheets and spread sheets. Sales forecast team used to study and analyze old statistics and reports and by certain mathematical calculations and through some complex algorithms they try to find out future predictive sale of a company or organization. This type of manual approach could not able to provide desired exact accuracy and mostly it is fail during starting quarters. To check accuracy , higher management has to wait for last quarter sales and then only they can able to track whatever report generated by sale forecast team is accurate or not. Also, it is quite leanly process.
To overcome the drawbacks of manual sales forecast team’s results, we have proposed one machine learning based sales forecasting system. This system can able to provide more than 95% accuracy in the sales forecasting of company or organization. This system can able to generate whole sales reports with requirement of necessary manpower and other resources. It means that by using this sales forecasting system machine learning project, one can easily find out that to achieve particular sales target, how much manpower and how much resources are required. The forecasting of sales takes place on the basis of data processing and data analytics and later on machine learning algorithm are applied on analyzed data to achieve best of best accurate results.
Now days due to digitalization, online shopping is increased rather than that of offline shopping. Due to this, there are so many e-commerce based online shopping platforms gets opened up in the market. The e-commerce website owners need real-time and hourly sales statistics along with comparative analysis with their competitor’s e-commerce website. On the basis of that real-time database they get to know that customers interest and their requirements. After analysis with sales forecasting system machine learning project module, e-commerce higher management decides their next level of actions as per that. Through this system analysis, they get to know about their pro and cons. After that, they try to improve their lacunas to rise up their sales.