Virgil  Hagenes

Virgil Hagenes

1603328400

Characteristic Based Similarity for New Products Forecasting

“How much I’m gonna sell of it?” is the question that every retailer has in mind when they are thinking about adding a new material into their stores and e-commerce.

We usually have a lot of techniques to help us with forecasting and prevision, but when we talk about new products we face a little big problem that is the fact if we don’t have sales data for the new product to use in regression or in a time series algorithm.

So… how can we forecast it?

Approach

One way to work around this lack of data is finding a product that is similar to the new one and copying a percentage of its historical sales data, and with it, you can now apply your preferred forecasting technique.

Basically, you can compare the products in several different ways and besides that each business will have to define what are the ideal features to use in this analysis.

After having the features defined, which is the most difficult and important step of the process, you will follow a simple step-by-step to achieve your goal:

1. Apply one-hot encoding to categorical data

Applying one hot encoding we go from comparing distances between the categories names/texts, to comparing whether or not the product is in the same category as the old one.

2. Apply a scaler technique to numerical data

When we talk about distances it’s always something like A-B=C, but now we are discussing about the distance of several characteristics and the result sounds like the sum of all Cs created by all As minus all Bs.

There would be no problem with that, only if the range of values from columns is all the same, and I’m quite sure that this is very, very rare to occur.

Let’s say that we have 3 columns, one has a range of values from 200 to 400, another column is something like 15k to 78k, and a third one is from 1 to 10.

#machine-learning #artificial-intelligence #retail #data-science #python

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Characteristic Based Similarity for New Products Forecasting
studio52 dubai

studio52 dubai

1621769539

How to find the best video production company in Dubai?

How to find the best video production company in Dubai?We are the best video production company in Dubai, UAE. We offer Corporate Video, event video, animation video, safety video and timelapse video in most engaging and creative ways.

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studio52 dubai

studio52 dubai

1621857375

Top Video Production Companies in Dubai 2021

Looking for the top video production companies in Dubai in 2021? Choose the right video production company to enhance your product and service with the best video services.

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Ajay Kapoor

1626148470

Software Product Development Company, SaaS Development Services

PixelCrayons: Being a top software product development company, we are known for providing robust, secure, feature-packed, and scalable Software product engineering solutions as per the specific needs of businesses.

Get SaaS-based software product development services from initial strategy & planning to final deployment and after delivery support.

Being a trusted SaaS product development company, we cover the entire array of software product engineering services from consulting to development, testing and devops.

We turn your software product idea into reality by putting custom skillsets in place. With 16+ years of domain expertise, we have created 13800+ successful projects and garnered 6800+ happy customers from 38+ countries.

#software product development companies in india #software product development services #software product development company #software product development india #product development companies in india #software product development companies

Mobile App Development Companies in New York 2020 – TopDevelopers.co

Are you finding top mobile app development companies in New York? Hire top mobile app developers from New York selected by Topdevelopers.co by their performance.

Listing the elite and most immaculate among the top mobile app development companies and firms is our prime motto at TopDevelopers. We believe in providing the best, probably the most comprehensive companies so that our visitors could get their one-stop solutions. We comprehend in-depth analysis in the process of company selection and filter it at many levels so that only the best comes out. With the plethora of options regarding mobile app development companies available for the users, time becomes an important factor. Thus at TopDevelopers, we render simple and lucid searching options so that the visitor gets the best possible result according to their query and search.

Find Now: List of Best Mobile App Development Firms & Mobile App Developers in New York

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Justyn  Ortiz

Justyn Ortiz

1600455600

An Overview of our PH Launch for AskMakers v2.0

Oh…I am so sleepy…because I launched AskMakers 2.0 on Product Hunt and I have been monitoring it almost without sleeping😪

The first version of it was launched about 10 months ago.

I worked so hard on it and it got over 100 upvotes within 24 hours for the first time🤩To make an app useful, I sent emails to ask successful makers to join AskMakers.

I am nobody, just a software developer from Tokyo (currently in Vancouver), however, some of them signed up on and support it!! Unbelievable🤯

Thank you JustinHariAmieJonathan, and Jaime😆

After that, it took 10 months until the launch of 2.0…

I always thought like I need to add more features to launch, and I felt like I can never launch it…I should not try to be perfect.

#product #product-launch #launch #web-applications #nextjs #product-development #product-owner #product-market-fit