AI-Based Sales Forecasting Model for Digital Marketing

AI-Based Sales Forecasting Model for Digital Marketing

Biswajit Biswas, Manas Kumar Sanyal, Tuhin Mukherjee
Copyright: © 2023 |Pages: 14
DOI: 10.4018/IJEBR.317888
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Abstract

Sales prediction with minute accuracy plays a crucial role for an organization to sustain amidst the global competitive business environment. The use of artificial intelligence (AI) on top of the existing information technology environment has become one of the most exciting and promising area for any organizations in the current era of digital marketing. E-marketing provides customers to share their views with other customers. In this paper, the authors proposed a model which will be helpful to the digital marketers to find out the potential customers to extract value from customer feedback. The proposed model is based on artificial neural network and will make it possible to identify the customer demand depending on previous feedback and to predict the future sales volume of the product. The authors tried to utilize AI, mainly neural networks (NNs), to construct an intelligent sales prediction and also to apply ANNs for prediction regarding sales of mobile phone (Redmi, Note 6 Pro) one month ahead depending on customer feedback on two e-commerce platform, namely Amazon.in and Snapdeal.in.
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2. Literature Reviews

In the present century of Indian digital market, Amazon, Flipkart and Snapdeal are playing a major role to expand the e-commerce market share. In this study authors used feed forward ANN to analysis the customer’s feedback which influences the potential customers for their purchase decisions (Biswas, Sanyal, & Mukherjee, 2021, p-78) Online review systems take an important role for any e-commerce business to analyze their customer’s satisfaction and consequently up gradation of their products. It helps the retailers and manufacturers to make decision on their inventory management.

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