How To: Machine Learning-Driven Demand Forecasting

Usual statistical models apply a set of known relationships to a dataset. For example, exponential smoothing will have its way of estimating the underlying demand level and trend. On the other hand, machine learning is about letting an algorithm understand a dataset and its underlying relationships on its own. A Machine Learning algorithm will run through a dataset, look at data features, and (try to) pick up any underlying relationship. Choosing the correct data to feed to your model is tremendously important.