Advances in Economics, Management and Political Sciences

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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis

Series Vol. 64 , 28 December 2023


Open Access | Article

Application of Big Data Analysis in Sales Forecasting

Qianqian Ma * 1 , Ailing Xie 2
1 Hunan University
2 The Ohio State University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 64, 1-7
Published 28 December 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Qianqian Ma, Ailing Xie. Application of Big Data Analysis in Sales Forecasting. AEMPS (2023) Vol. 64: 1-7. DOI: 10.54254/2754-1169/64/20231465.

Abstract

As a matter of fact, with the rapid development of the computation ability and data delivering, the big data analysis becomes a common tool to realize the predictions. With this in mind, this paper focuses on the impact of big data analysis on sales forecasting, starting with an introduction to the present-day context and significance of sales forecasting and some of the forecasting scenarios implemented by previous generations based on machine learning. After introducing these backgrounds, we start to introduce big data analysis and its impact on sales forecasting. According to the analysis and the summaty of the previous experience, we introduce the commonly used models, the parameters of the models, and the evaluation of the models as well as the application scenarios, and the specific application results. Finally, we demonstrate the limitations as well as future perspectives of big data analysis and sales forecasting. Overall, these results shed light on guiding further exploratio of bigdata analysis in sales prediction.

Keywords

big data analysis, sales prediction, sales forecasting model

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
ISBN (Print)
978-1-83558-229-9
ISBN (Online)
978-1-83558-230-5
Published Date
28 December 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/64/20231465
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated