Retail Sales Forecasting: AI to the Rescue

Forecasting is a technique that uses historical data and events to build estimates about future trends, potential disasters, and the overall behavior of any subject. Forecasting can be used as probabilistic support for decision analysis, to estimate expenses, revenues, and budget plans. Forecasting in business can be divided into two distinct categories: qualitative forecasting and quantitative forecasting. For more information, you can take a look at Investopedia's Financial Forecasting primer. Both types of forecasting have shown a lot of promise and managed to create business enhancements for many entities.