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Sales Prediction & Revenue Generation with Artificial Intelligence

Project Highlights

Our client is a manufacturer well-known for their affordable, personalized, and durable car spare parts. They have a strong presence in UK manufacturing hub. However, the sales number were reducing at an exponential rate due to the COVID-19 crisis. Moreover, the high volume of data collection proved a severe challenge to predict the sales number. Furthermore, the complex situation ended in market demand fluctuating at a rapid pace, the client therefore could not forecast necessary stock quantities and the sales number continued to reduce. The client reached to OrangeMantra for an AI-powered solution for sales prediction and revenue generation.

Project Highlights
challenge
Business Challenges

Sales and revenue forecasting is not simple job and needs to focus on imitating trends. Analyzing a large volume of data comprising customer behavior patterns, preferences, and future trends and drawing final conclusions. OrangeMantra has developed an AI application that is able to predict market demand and order quantity with high accuracy, based on order history, old records and product information.

Technology Solution

OrangeMantra team built and implemented a AI prediction model based on the historical data, market behavior factors, and other 3rd party data. The model predicts demand and next calculates the optimal prices for the sellers. The solution automatically forecasts monthly and weekly sales, based on the demand and supply analysis, an optimal price is chosen.

Value Delivered

AI-based solutions enable client to forecast demands based on target groups’ shopping behaviors while keeping a check on the seasonal trends. Based on the data forecasts, the application allows managers to avoid costly delays while simultaneously lowering the work they need to perform. This sales prediction case study shows how with improved accuracy using AI, the client optimize the usage of resources. Moreover, operational costs were reduced while keeping up with their client’s demands.

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