- The IPH
The forecast of sales volumes represents a challenge for the production planning. Above all, sales forecasts that are difficult to predict, such as those caused by promotions, are obstructive. Often, additional information from macroeconomic indexes is not topical, the level of detail of products to be forecast too low and the forecast expenditure too high. Aim of a research project therefore is to develop a model based on search engine data to forecast sales volumes at product level. By the use of complementary application of search engine data to the sales forecast is expected that the forecast mistake can be reduced compared with conventional forecast models upon product level. In general it should be clarified whether and in which extend the logistical efficiency of an enterprise can be improved by search engine data based forecast of sales volumes in the production planning.
production planning, sales forecast, search engine data, forecast model