Conclusion

Coming to conclusion on the matter of Big data and AI implementation in demand

forecasting, we will first go through the benefits of efficient demand forecasting. Demand
forecasting helps organizations optimize their supply chain, sales, and marketing operations
and prevent having an excessive amount of goods in stock or out-of-stock situations offering
improved accuracy by time, increased customer satisfaction and improved manpower
planning.

Data-driven decision-making is quickly becoming the norm in today’s digital world.

Because data collection and analysis is more approachable than ever, businesses big and
small are taking advantage of this technology. With data sets growing by the second, it’s
nearly impossible for any one individual or business to efficiently use the data they’re
collecting. The help of AI eliminates analysis paralysis while avoiding inaccurate
interpretations by providing clear and actionable direction fast from large data sets, whether
it’s collected in real-time or from an established database. Businesses using AI tools are able
to increase efficiency, develop personalized experiences, reduce cost while keeping accuracy
level of demand forecasting at high levels.

Although emerging technologies bring about a number of technical solutions,

transformation will be felt most acutely in our ability to learn and adapt alongside the
machines. After all, big data and artificial intelligence combination is not a panacea but
merely a tool for more sophisticated, precise options and solutions to choose.