In an online world, it is easy to forget the lessons taught through hundreds of years of data from the offline world.
A brick and mortar store has a limited amount of inventory. Each month they have to consider the goods that will need to be stocked in the upcoming months based on what will sell in the store. If a store stocks goods that are not sold, it is wasted space that can lead to loss of profits. The inventory specialist examines what goods were sold in the previous years in order to predict the inventory they need in the store in any given month.
Almost every business has some seasonality. Seasonality in the flower industry is one of the most obvious. Valentine’s Day, Mother’s Day, Easter, etc., have correlations with spikes ...