Optimizing Sales Forecasting with Analytics

The retail arm of a clothing brand struggled with inaccurate sales forecasting, leading to overstock and stockouts costing around INR 25 lacs per quarter. The team identified a need to have a robust predictive model and hence launched an Advanced Predictive Analytics project. By leveraging machine learning models on historical sales and market data, the team improved forecast accuracy by 30%. This optimization reduced inventory costs by INR 20 lacs quarterly and increased sales by INR 10 lacs through better stock availability. Enhanced data governance practices also ensured data quality and compliance, fostering informed decision-making across departments.