New Product Forecasting Using Machine Learning Udemy

All businesses introduce new products for various reasons. The new products poses challenge for the planners and marketing executives to estimate the demand for them for merchandise and supply planning purposes. The primary reason being the lack of historical data that can be used for forecasting. These techniques are'By Analogy' and'Bass Diffusion' including a live demonstration using a planning software. While Analogy is the more popular technique, the issue most planners face in this technique is in choosing the right analogue product.