The Client is an American department store retail chain, which is also the largest omnichannel retailer in America. They have operated over 50 years and continue to provide wonderful products and remarkable savings to their customers. The client is mainly focused on building unique shopping experiences and increasing customer satisfaction by providing great deals and customized personalized suggestions.
Being in the business for more than 5 decades translated into a wide range of products being offered by the client made it difficult to get a highly accurate forecast of demand patterns for each and every product. The biggest challenge here was that the demand for new products or the products with limited historical data could not be predicted by existing off the shelf solutions. Therefore, the client looked for a Google Cloud Partner that can customize the solution as per their need and deliver accurate predictions in spite of inconsistencies in the data.
The Client partnered with Pluto7 because of their proven expertise in the retail and supply chain domain, Google Cloud Platform, and its various components including AI and Machine Learning. With their experience of obtaining high forecast accuracies for other enterprises using machine learning, Pluto7 has been endorsed by Google for offering top-notch demand forecasting solutions. Further, our team leveraged Google Cloud Platform and Pluto7’s Demand ML solution to help the client’s team predict and forecast demand accurately.
The Solution consists of a ML model that would predict the sales of all the client offerings using a combination of historical sales data and many other internal and external sources. Pluto7 team leveraged Demand ML to perform exploratory data analysis.
Additionally, Google AI Platform was used for training existing and exploring new ML models to get the right accuracy. The model chosen generated a highly-accurate forecast for all the subclasses within the run window of 48 hours, using a mechanism called High Throughput Computing (HTCondor). Further the generated results were presented through visuals over datastudio.
The demand ML solution was successfully scaled up to meet the specific client’s needs, delivering 85% accuracy across all products. Pluto7 built and deployed a top-performing ML model yielding highly accurate results using historical, other predictive trend data, as well as weather information and more. The client then expanded ML usage from predicted demand for supply and price planning as well.