Retail Sales Forecasting
Revenue forecasting is very important
The backbone of every retail business is the cash flow. It is the incoming revenue that keeps your store open and enables you to generate more revenue. As in everything else, there are times when your sales will be performing great. However, there will be times when sales levels will be so low that you will barely be able to cover the operating expenses. Therefore, it is very important to accurately forecast retail sales so that you know what your business can do at any given time. Knowing this enables you to act on time and avoid taking a blow when the bad days come. Shoptimality AI can help you in that. Our artificial intelligence uses complex mathematical models to predict your future revenue for up to 30 days based on your customers behavior and demand predictions.
Know where it will come from
Accurate revenue forecast can be a great advantage to your business. However, if you could also know exactly from where a given uprise or downfall in revenue will come, even better. Our technology does exactly that. Shoptimality not only predicts the raw numbers in the revenue, but also predicts every single dime and where it will come from. With Shoptimality, in addition to raw number predictions, you will also get a list of every single product or service our AI thinks it will generate any revenue within the predicted period. And as an added bonus, you will also get a prediction on exactly how much revenue Shoptimality AI thinks will be generated by a particular product or a service. Once you find out your predicted bestsellers, you can use other Shoptimality features such as stockouts prediction to ensure you don't run out of such products and avoid any losses.
Make business decisions on time
Knowing what direction your sales revenue will take is a very important factor in making any business decision which can either make or break your business at a later time. For example, every business likes to invest into further growth when it has excessive funds. But doing this just before your business will take an unexpected downturn can make your business actually go out of business. Don't let this happen to you. Shoptimality revenue prediction feature will enable your retail operations to forecast such events before they happen on many occurrences. When you know what will be happening, you can use the good times to prepare for the bad and avoid getting your retail business into illiquidity.
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