Master Special Events with Limited Historical Data
Common Practice:
Special events can pose a significant challenge for retailers, especially when there is limited historical data on each SKU. In such situations, forecasting the expected sales increase becomes a daunting task.
The Problem:
Lack of historical data makes it difficult to accurately predict demand patterns and adjust inventory targets accordingly. Retailers may find themselves navigating special events with uncertainty, leading to suboptimal inventory management and potential missed sales opportunities.
What Can Be Changed:
Onebeat's AI-driven solution offers a game-changing approach to tackle this challenge. Our system excels at learning from similar products and intelligently adapting to current trends, allowing for precise adjustments to inventory targets.
The Impact:
With Onebeat's intelligent approach, retailers gain the ability to confidently navigate special events without the constraints of historical data for the specific product. Our AI algorithms take into account the latest market dynamics and customer preferences, enabling retailers to optimize inventory levels for each SKU-location during promotions, shopping days, and holidays.
The Result:
