Predictive modeling can be used to forecast the sales of various products such as furniture, fashion accessories, electronics goods, etc. The forecasting can be drilled down to a granular level for different combinations of store-subgroup-color-size-design. Sales forecasting helps organizations in formulating their sales as well as logistics strategies.
It can help in a rise in revenue by reducing stock-outs and effectively distributing existing stock across the different stores. In addition, it helps to operate in a lean model based on sales prediction, thus saving the overall inventory holding cost