Demand Forecasting Best Practices

15 Machine learning

Tell us the things that are to come, so that we may know that you are gods.

—Isaiah 41:22

In this chapter, you will learn what machine learning is, how it works, and what you can expect when using it to forecast demand. We will also discuss pitfalls and best practices when launching an ML initiative.

If you want to learn how to create your own machine learning models, feel free to check my book, Data Science for Supply Chain Forecasting.

15.1 What is machine learning?

So far, we have discussed statistical models using predefined mathematical relationships to populate demand forecasts. The issue was that these models cannot ...