Forcastune

Project Title

Forcastune

Project Area of Specialization Artificial IntelligenceProject Summary

We are building a automation tool that will help broadscale businesses like supermarkets and departmental stores to predict sales of there product and growth of the companymost precisely using different sales parameters from company sales data(e.g. Revenue, Quantity, Season, Weather etc.) by using Machine learning algorithms. Currently they are using the manual methods to foreast there sales of product which is a time consuming and complex task.

Project Objectives

The prime objective of our project is to build a product that will be a handy tool in forecasting fastidious information about broad scale businesses. In Pakistan, people that are involved in the  departmental store business are unable to track and predict their sales accurately, because of the following reasons

• Lack of automated tool train with local sales data.

• The Whole Use of Item History Vs Limited (manually we cannot use whole data to predict sales)

• More Data – Better Accuracy (manually we cannot use all the variable that are concerned with sales because it will increase complexity)

Our objective of this project is to come up with a solution that solves these problems.

Project Implementation Method

In first phase We are planning to initiate our project with spiral methodology of development can be also called as mini water fall model, this approach have short development iterations at various intervals of project roadmap. Second phase In second phase of project we will implement project in beta testing environment for project real time testing and to match client needs alongside with agile development process in order to enhance customer collaboration and change managment

Benefits of the Project

Applications of forecasting are limitless in real life, in business world demand and sale forecast is a critical process for startups as well as giant multinational companies. Identifying consumers preferences and likelihood to purchase predication enable companies to settle their marketing campaigns, product lines, setting up profitable targets and avoiding the risks of inventory shortage and overage. The objective of this product is to build a real-time machine learning forecasting tool, that will be scalable to needs of local business setups i.e. ERP’s as well as it that will provide an opportunity to companies to merge their data on a platform that contain trained and optimized forecasting models, and achieving precious insights leading towards huge profit.

Technical Details of Final Deliverable

Final deliverables of  the project will be a web-based portal through which customer can login and subscribe to use the services available on website. 

Final Deliverable of the Project Software SystemType of Industry IT , Finance , Others Technologies Artificial Intelligence(AI)Sustainable Development Goals Industry, Innovation and InfrastructureRequired Resources

Item Name	Type	No. of Units	Per Unit Cost (in Rs)	Total (in Rs)
			Total in (Rs)	34676
Shiny app hosting(Starter $39(Rs 5446) per month)	Equipment	6	5446	32676
Printing and other expenditures(Srs, Final Project report etc)	Miscellaneous	4	500	2000