Friday 12 March 2021, 2:00pm to 3:00pm
Open toExternal Organisations, Postgraduates, Public, Staff
RegistrationFree to attend - registration required
One point where we are all confronted with the need for good forecasts is when we go (or nowadays, click) shopping. Retailers need good forecasts to ensure their shelves are well stocked, but not overstocked. (They need forecasts for other uses, as well. More on this in the presentation.) We will go into key challenges in retail demand forecasting, how to address these, what we can learn from the recent M5 competition that used actual retail data, and why UK retailer My Local went out of business.
Stephan Kolassa is a Data Science Expert at SAP Switzerland. His responsibilities include the algorithmic, statistical and forecasting aspects of SAP’s retail platform CARAB, from user research across prototyping to training. He also does some academic research on the side, serving as an Honorary Researcher at the Centre for Marketing Analytics and Forecasting at Lancaster University Management School, and as Associate Editor for Foresight: The International Journal of Applied Forecasting.