case in point Title: Evaluating impact on sales by advanced recursive chain forecasting models Industry: Technology Country: US
Challenge The client wanted to evaluate the impact on sales by the replacing existing brands with a single less-space occupying product as it was facing issues as • Increasing instances of malicious downloads • Difficulty in storage and use
Approach
Trend/Comparative analysis for Product A& Product B
Seasonality analysis & normalization
Forecasting Analysis
Drivers analysis
• Data harmonization and analysis over time; Sales trend of Product A (new introduction) and Product B (existing) • Recursive chain forecasting model and Bayesian network model to determine impact on sales • Used techniques such as Granger Causality and Cross Price Elasticity for suggesting prescriptive measures for enhancing sales
Result • Formulated bundling strategies by identifying products whose sales were impacted the most • Identified segments that responded well to the introduction of the new product and suggest measures for improving sales blueoceanmi.com | 1
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