METHOD AND SYSTEM FOR GENERATING ENSEMBLE DEMAND FORECASTS
First Claim
1. A system for forecasting demand for a plurality of items, the system comprising:
- a common data preparation engine comprising;
a computing system including a data store, processor, and memory communicatively coupled to the processor, the memory storing instructions executable by the processor to;
receive sales data,convert sales data to common format data, andstore common format data in a standard data store;
an enterprise forecast engine comprising;
a computing system including a processor, and a memory communicatively coupled to the processor, the memory storing instructions executable by the processor to;
build a forecasting model;
access the common format data;
generate an aggregate demand forecast using the forecasting model and the common format data; and
communicate demand forecast to a forecast data store for storage;
a server comprising an API accessible by one or more client applications, the API configured to;
receive requests for demand forecasts,communicate demand forecast requests to the forecasts data store, andreceive demand forecasts from the forecasts data store.
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Accused Products
Abstract
Methods and systems for forecasting demand for a plurality of items are provided. In particular, the demand forecasting system and methods described herein are useful for predicting demand of products in a retail context. Forecast models are built and used to score incoming sales data to predict future demand for items. Forecast models are validated by evaluating actual demand against predicted demand and using that information to inform how future ensemble forecast will be generated. Forecasts may be broken down into smaller components to satisfy a variety of requests for data from client applications.
5 Citations
18 Claims
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1. A system for forecasting demand for a plurality of items, the system comprising:
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a common data preparation engine comprising; a computing system including a data store, processor, and memory communicatively coupled to the processor, the memory storing instructions executable by the processor to; receive sales data, convert sales data to common format data, and store common format data in a standard data store; an enterprise forecast engine comprising; a computing system including a processor, and a memory communicatively coupled to the processor, the memory storing instructions executable by the processor to; build a forecasting model; access the common format data; generate an aggregate demand forecast using the forecasting model and the common format data; and communicate demand forecast to a forecast data store for storage; a server comprising an API accessible by one or more client applications, the API configured to; receive requests for demand forecasts, communicate demand forecast requests to the forecasts data store, and receive demand forecasts from the forecasts data store. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method of forecasting demand for a plurality of items within a retail enterprise, the method comprising:
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receiving sales data at a common data preparation engine; formatting the sales data into a common format; building, with an enterprise forecast engine, an ensemble forecast model from two or more component models; analyzing, with the ensemble forecast model, the common format data to generate an aggregate demand forecast; and storing the aggregate demand forecast in a forecasts data store. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
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17. A non-transitory computer-readable storage medium comprising computer-executable instruction which, when executed by a computing system, cause the computing system to perform a method of generating a demand forecast for one or more items, the method comprising:
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receiving store sales data and web sales data at a common data preparation engine; formatting the store sales data and web sales data into a common format; building, with an enterprise forecast engine, an ensemble forecast model from two or more component models; analyzing, with the ensemble forecast model, the common format data to generate a demand forecast; storing the aggregate demand forecast in a forecasts data store; receiving, at an API, a request from an administrator computing device for a demand forecast; communicating the request to the forecasts data store; communicating the demand forecast to a user interface on the administrator computing device; and visualizing the demand forecast on a display of the administrator computing device. - View Dependent Claims (18)
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Specification