JanataHack: Demand Forecasting

Demand Forecasting is the process in which historical sales data is used to develop an estimate of an expected forecast of customer demand. To businesses, Demand Forecasting provides an estimate of the amount of goods and services that its customers will purchase in the foreseeable future. Critical business assumptions like turnover, profit margins, cash flow, capital expenditure, risk assessment and mitigation plans, capacity planning, etc. are dependent on Demand Forecasting.

Demand Forecasting is the pivotal business process around which strategic and operational plans of a company are devised. Based on the Demand Forecast, strategic and long-range plans of a business like budgeting, financial planning, sales and marketing plans, capacity planning, risk assessment and mitigation plans are formulated.

Short to medium term tactical plans like pre-building, make-to-stock, make-to-order, contract manufacturing, supply planning, network balancing, etc. are execution based. Demand Forecasting also facilitates important management activities like decision making, performance evaluation, judicious allocation of resources in a constrained environment and business expansion planning.

This time we bring to you another Weekend Hackathon to apply your machine learning and time series forecasting skills to build a successful demand forecasting model

FAQs

1. Where can I find the dataset and the problem statement for the hackathon?

The contest will go live on the designated contest start date and time. There is a timer that is shown at the top of this page which shows the remaining time before the contest goes live. This is when you can access the problem statement and datasets from the problem statement tab.

2. Can I share my approach/code?

Absolutely. You are encouraged to share your approach and code file with the community. There is even a facility at the leaderboard to share the link to your code/solution description.

3. I am facing a technical issue with the platform/have a doubt regarding the problem statement. Where can I get support?

Join the AV slack channel by clicking on 'Join Slack Live Chat' button and ask your query at channel: janata_hack