Data Science
Predict future sales to optimize inventory and sales strategies by studying patterns from historical data
In the fast-paced world of online retail, predicting future sales is key to staying ahead. Using historical data, you can optimise inventory and sales strategies.
Certified by
Role
Data Scientist
Industry
Retail
Menterns at work
3
Level
Intermediate
Time Commitment
60 Hours
Duration
60 days
Tools you’ll learn
Here’s What You Work On
About the Company
Danube Home is a leading furniture retailer across geographies.
They offer over 25000 essential products across several furniture categories. Their business has been in operation since 1993 and they are one of the few furniture retailers in the region who provide their customers with a free interior design consultation.
They offer over 25000 essential products across several furniture categories. Their business has been in operation since 1993 and they are one of the few furniture retailers in the region who provide their customers with a free interior design consultation.
Explore
the following work techniques
Time Series Analysis
Prediction Model Development & Evaluation
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Bridging the gap
The primary purpose of this experience is to leverage historical sales data to accurately predict future sales, enabling the optimisation of inventory and sales strategies for an online retail business.
By understanding and anticipating customer demand, the project aims to enhance operational efficiency, reduce costs associated with overstocking or stockouts, and improve overall customer satisfaction.
By understanding and anticipating customer demand, the project aims to enhance operational efficiency, reduce costs associated with overstocking or stockouts, and improve overall customer satisfaction.
Apply
the following skills
Data Analysis
Exploratory Data Analysis (EDA)
Model formulation
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Expected output
Through this experience, you will be expected to submit multiple reports and jupyter notebooks, related to the exploratory data analysis & the model you will develop.
Create
the following deliverables
Report on Application of Data Science in Retail Industry
EDA Report with Visualisations & Insights
Business Presentation on forecasting model & findings
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What you’ll need before starting
Python Libraries
Exploratory Data Analysis
Machine Learning Basics
Exploratory Data Analysis
Machine Learning Basics
Why Do Menternships?
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Predict future sales to optimize inventory and sales strategies by studying patterns from historical data
In the fast-paced world of online retail, predicting future sales is key to staying ahead. Using historical data, you can optimise inventory and sales strategies.
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Get Guidance in One-on-One Mentor Hours
Ask Questions in our Biweekly AMA
Resolve all doubts on Mentor Support Chatbox
Get Actionable Mentor Feedback on your work
Learn & Network at the exclusive Mentern Perks Club
