Traditional demand forecasting methods often fall short with unpredictable variables such as social media trends and natural disasters, leading to inefficiencies in inventory management and pricing.
Today's AI tools are transforming the demand forecasting process by quickly aggregating and analyzing both internal and external factors that inform strategic decision-making in ecommerce.
Demand forecasting predicts future sales trends using key metrics like sales data, consumer buying patterns, and market dynamics to optimize resources and enhance customer satisfaction.
By embracing AI in demand forecasting, ecommerce businesses can avoid excess inventory, streamline supply chains, and ensure competitive pricing, ultimately benefiting customer experience.
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