product family
Enhancing Retail Sales Forecasting with Optimized Machine Learning Models
Ganguly, Priyam, Mukherjee, Isha
In retail sales forecasting, accurately predicting future sales is crucial for inventory management and strategic planning. Traditional methods like LR often fall short due to the complexity of sales data, which includes seasonality and numerous product families. Recent advancements in machine learning (ML) provide more robust alternatives. This research benefits from the power of ML, particularly Random Forest (RF), Gradient Boosting (GB), Support Vector Regression (SVR), and XGBoost, to improve prediction accuracy. Despite advancements, a significant gap exists in handling complex datasets with high seasonality and multiple product families. The proposed solution involves implementing and optimizing a RF model, leveraging hyperparameter tuning through randomized search cross-validation. This approach addresses the complexities of the dataset, capturing intricate patterns that traditional methods miss. The optimized RF model achieved an R-squared value of 0.945, substantially higher than the initial RF model and traditional LR, which had an R-squared of 0.531. The model reduced the root mean squared logarithmic error (RMSLE) to 1.172, demonstrating its superior predictive capability. The optimized RF model did better than cutting-edge models like Gradient Boosting (R-squared: 0.942), SVR (R-squared: 0.940), and XGBoost (R-squared: 0.939), with more minor mean squared error (MSE) and mean absolute error (MAE) numbers. The results demonstrate that the optimized RF model excels in forecasting retail sales, handling the datasets complexity with higher accuracy and reliability. This research highlights the importance of advanced ML techniques in predictive analytics, offering a significant improvement over traditional methods and other contemporary models.
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MathWorks Delivers Additional AI Capabilities With Release 2020a of MATLAB and Simulink
MathWorks today introduced Release 2020a with expanded AI capabilities for deep learning. Engineers can now train neural networks in the updated Deep Network Designer app, manage multiple deep learning experiments in a new Experiment Manager app, and choose from more network options to generate deep learning code. R2020a introduces new capabilities specifically for automotive and wireless engineers in addition to hundreds of new and updated features for all users of MATLAB and Simulink. More details are available in the Release 2020a video. "MathWorks provides a comprehensive platform for building AI-driven systems," said David Rich, MATLAB marketing director.
Towards Grammars for Cradle-to-Cradle Design
Fisher, Douglas H. (Vanderbilt University) | Maher, Mary Lou (University of Maryland, College Park)
Figure 1a first illustrates by the oval that a Cradle-to-cradle (C2C) design (McDonough & Braungart, critical problem in traditional design is that a product is designed 2002) recognizes that nothing short of full recycling of materials in isolation. In contrast, the products shown in the with no degradation in material quality is necessary square box of Figure 1b illustrate the concept of a product for long-term planet sustainability. C2C advocates looking family, where multiple products are designed within a system to the natural world as an ideal model of recycling, where of material use and reuse, which flows between product organic materials are continually recycled through processes lines. While there may still be materials that come from of decay and growth. They propose design methodology outside the family and there are materials that are byproducts that separates biological cycles and syntheticmaterial of the family production, a family design would seek cycles, enabling biological material to be reclaimed to minimize these and to exploit them in a still larger context.
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- Europe > United Kingdom > England > Oxfordshire > Oxford (0.14)
- Oceania > Australia > New South Wales > Sydney (0.04)
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