Category: Amazon Forecast

Building and maintaining a loyal customer base is critical to the long-term success of retail. This is especially true in today’s multichannel digital shopping space that now even includes hybrid brick-and-mortar “smart stores.” Retail predictions recently released in a worldwide study by IDC strongly indicate that by 2024, 40% of retailers will adopt a multilevel […]

Forecasting is the key to maintaining an effective balance between meeting customer demand and effectively using your resources. An undersupply can lead to disappointed shoppers while an oversupply will sit on shelves until sold or discarded (if passed its useful shelf life). Businesses use everything from spreadsheets, workflows, to complex resource planning software to generate […]

Bank CFOs are transforming their finance functions from both an operations and technology perspective, innovating to simplify their organisational model, increase efficiency and deepen the insight they provide to stakeholders. Cloud technology is enabling these changes by providing a new set of tools to solve some of the enduring business challenges that they face. In […]

The grocery industry is not what it used to be. Reshaped by economics, technology, and a new generation of shoppers with different expectations and behaviors, food retailers have been challenged to deliver on their brand promises while creating competitive differentiation. The lingering effects of COVID, rising inflation, and a continuing tight labor market have all […]

Facing an increasingly competitive and rapidly shifting marketplace, businesses are under pressure to find new opportunities faster than ever. The volatility has hit consumer goods companies and retailers especially hard, challenging them to optimize their supply chain, reduce waste, and drive faster, smarter decision-making. For many, the answer lies in harnessing the vast quantities of […]

Retailers have always been in a race to deliver an exceptional customer experience, and in the digital age, that race has only become more intense—particularly in physical stores. With consumers shopping again at brick-and-mortar stores, some key trends have emerged: Half of retail customers intend to still use digital, mobile, self-service, and contactless technologies adopted […]

Since it was released back in November 2022, the internet has been buzzing about ChatGPT. Since then, retailers having been asking two main questions: what is it, and how will it impact my business? Let’s dive into both, staying high-level, and see if we can make sense of all the hype. What is Generative AI? […]

Introduction The purpose of this blog is to demonstrate one method of how effortlessly you can automate the data extraction, transformation, and building of an accurate power-demand forecasting pipeline using Amazon Web Services (AWS) services, such as Amazon Forecast, a time-series forecasting service based on machine learning (ML). This blog describes how Power Trading Corporation […]

Retailers use demand forecasting to anticipate customer needs and optimize supply decisions. Like most industries, demand forecasting in retail industry uses large amounts of historical data to predict future consumer demand. These forecasts depend upon analyses of variables that impact demand, such as seasonality, promotions, inventory levels, and market trends. Prediction accuracy is influenced by […]

In just a few years, the global retail industry was uprooted. Evolving customer demand, unprecedented supply chain delays, and staffing disruptions have fundamentally altered the retail landscape—likely for good. As companies adjust to these major shifts, one thing is abundantly clear: accurate business planning can make a tremendous difference. But building precise forecasts can be […]