Oracle Retail Demand Forecasting

Some retailers appear to have a magic touch when it comes to managing their inventories. They always seem to have just the right amount of product on the shelves—neither too much nor too little. They know that if they have too much, they tie up valuable cash and are forced to liquidate at little or no profit. And if they have too little, they lose sales and loyal customers.

So what is behind that magic touch? And why can't all retailers be so successful in managing their inventories? The truth is, accurately predicting consumer demand is one of the most difficult challenges facing retailers today—for several reasons.

Oracle Retail Demand Forecasting creates extremely accurate forecasts with little human intervention. The system is designed to handle the challenges of real-world forecasting in retail, including scaling to manage the large volumes of data involved. For example, the system handles forecasting at a low level of detail (such as at the item-, by store-, by day-level), forecasting for new products, and forecasting for products with sparse sales.