Data Forecast
Making long-term prediction for new brands on the market
Desktop, MLaaS, Web
Objectives and challenges
When launching a brand to the market it is important to have the estimates of the brand’s development for at least the nearest future. However, young brands do not have any history to refer to when it comes to making predictions. In such a case, it is possible to use historical data of other brands to make short- and most importantly long-term predictions about future brand growth or shrinking as well as to identify spikes in growth or decline. SOLVVE team developed a solution to make such predictions.
Solutions
By taking information about seasonal changes from so-called parent brands, i.e. similar businesses who have been on the market for a longer time, our team can create a number of complex features that replicate fluctuations in target metrics vital for your business. As your business grows and new data about your brand flows in, SOLVVE experts can adjust the model to reflect the current and future state of things more accurately.
Features
- Utilising historical data of “parent” brands to make long-term predictions
- Using the latest achievements in data science and statistical analysis
- Building predictions for a multitude of target metrics based on time series data.
Results
- Possibilities to draw predictions without having historical data for your brand.
- Enhancing business growth through the long-term predictions.
- Constantly updating existing metrics to renew previous predictions for the best accuracy and relevancy.
Other projects by SOLVVE
Check out other cases to see more examples of solutions we provide and get more insights into SOLVVE’s expertise.