AI-Based Sales Forecasting Model for Digital Marketing

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Author(s): Biswajit Biswas (Department of Business Administration, University of Kalyani, India), Manas Kumar Sanyal (Department of Business Administration, University of Kalyani, India)and Tuhin Mukherjee (Department of Business Administration, University of Kalyani, India)
Copyright: 2023
Volume: 19
Issue: 1
Pages: 14
Source title: International Journal of E-Business Research (IJEBR)
Editor(s)-in-Chief: Jeffrey Hsu (Fairleigh Dickinson University, USA)
DOI: 10.4018/IJEBR.317888

Keywords: Business & Management / Business Science Reference / E-Business

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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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