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Artificial Intelligence and Sales Forecasting: the Perfect Match!

Artificial Intelligence – also called AI – is a groundbreaking technology and a central topic today and for sure will be one tomorrow too. Machine learning, voice or face recognition, virtual assistance… Artificial Intelligence utilisation is wide and adapted to every type of business. Do you know why you should use this new technology? Sales forecasting first!

A Definition of Artificial Intelligence

In everyday life, all of our actions are closely related to one another and this has made us wondering about the millions of data we are dealing with. How to get the most of your business data? Well, this is how AI was born. How does it work? The objective is to teach machines how to think by themselves, show them how to make smart decisions by copying Human fonctioning. It cannot exactly think as a Human being though.

Machine Learning, the Basis of AI

Machine Learning, as a key technology of AI, makes the customer’s data analysis by the machine possible. It knows how to identify shapes, designs and patterns to lead to interactions with the brand and get useful information from it. AI and – through it – Machine Learning, enables companies to optimize many of its internal actions.
One of Machine Learning utilizations is providing Natural Language Processing tools and enabling the machine to spot key words in the speech of their web users. Indeed, companies often use Natural Language Processing to rate web users’ feelings on social media. It provides companies key data on the brand name E-reputation with a feelings analysis.

Artificial Intelligence and Sales Optimization

Some E-commerce giants such as Amazon are already using AI to pre-empt and optimize sales forecasting. In that case, a deep data analysis enables the machine to spotlight key information on customer online consumption’s habits and then suggests products that will fit their needs. It will also recommend how to have an accurate reply for any prospect depending on the data collected through their emails, business’s CRM and so on. Such an AI use will both improve users experience and online sellers sales. But there is more on AI’s forecasting capacity: it also enables machines to calculate the probability of a customer purchase, which will give the company short-term and middle-term views on ist turnover.

Sales Prediction with the Saagie Platform

AI and Big Data are a perfect match: the Saagie Big Data Platform is an efficient tool for data extraction and exploitation. With Saagie’s Big Data new technologies and frameworks as Hadoop, Spark or the R Language you are able to easily use effective algorithms to analyze a really large number of data in a very short time.

In one of our sales forecasting projects, our team resorted to Machine Learning tools and techniques to extract data from their Data lake, using Random Forest and Eurydice as well as clustering techniques: thanks to unsupervised learning we were able to distinguish and determine 2 groups of images. Indeed, after having taught the machine some rules, it knew how to make the difference between those 2 types of images by itself. We designed sales forecasting schemes and calculated the sales’ probabilities with 3 models: public sales, private flow sales and erratic private sales.

Of course, only a highly skilled Data Scientist will be able to spotlight the meaningful data and code the machines. We offer you the help of Data scientistsData analysts and Data consultants. With the Saagie platform, you can keep your data safe in a ready-to-use platform working with a highly skilled staff.

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