Download or read book Using Social Media Data in Demand Forecasting written by Aybike Akici and published by . This book was released on 2018 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: We describe a fully empirical study on demand forecasting, that is applicable to any real-world data. This is a hands-on case study on the power of social media in demand forecasting. We implement a Box-Jenkins methodology with exogenous variables, namely ARIMAX, to forecast Walmart's future sales. The social media components that we utilize are the number of likes and comments on the official Facebook page of Walmart. The details of the empirical investigation for fitting the best ARIMAX model are presented, and the results are discussed. With this thesis, we demonstrate that social media information should be considered in forecasting, as it is very valuable for any company when performing demand planning, and inventory management.

Download or read book A Framework for Incorporating Social Media Data in Demand Forecasting for Operational Planning written by Amarnath Chadive and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Demand forecasting, the process of predicting future demand for a firm's products, is a crucial element of business success. A key challenge in demand forecasting is the tendency of predictions to become less accurate over longer time horizons, limiting their usefulness for medium- and long-term planning. In recent years, the use of social media data from sources such as Tweets, Google Trends and Amazon reviews has shown promise for improving forecasting accuracy; however, little research exists regarding how long in advance social media data contribute to accuracy. This dissertation uses historical sales data and relevant Twitter and Google search data for a consumer products company to determine the time lag at which social media data improved forecasting accuracy. My results confirmed that social media data improved sales forecasts over the base model at a time lag of 0 and 1 months, but not 2; in particular, lag 0 social media data improved the forecast accuracy for online sales. Results also showed that Twitter sentiment, which indicates customers' attitude toward a product, was more strongly correlated with product sales than Google Trends, which indicate only interest. Based on these results, I propose a framework for use of social media data in operations planning. This research can thus provide business analysts with practical guidance in using social media data to improve their forecasting. It also helps to fill the need for empirical research focused on lag time in use of social media data in forecasting.

Download or read book Research Anthology on Big Data Analytics Architectures and Applications written by Management Association, Information Resources and published by IGI Global. This book was released on 2021-09-24 with total page 1988 pages. Available in PDF, EPUB and Kindle. Book excerpt: Society is now completely driven by data with many industries relying on data to conduct business or basic functions within the organization. With the efficiencies that big data bring to all institutions, data is continuously being collected and analyzed. However, data sets may be too complex for traditional data-processing, and therefore, different strategies must evolve to solve the issue. The field of big data works as a valuable tool for many different industries. The Research Anthology on Big Data Analytics, Architectures, and Applications is a complete reference source on big data analytics that offers the latest, innovative architectures and frameworks and explores a variety of applications within various industries. Offering an international perspective, the applications discussed within this anthology feature global representation. Covering topics such as advertising curricula, driven supply chain, and smart cities, this research anthology is ideal for data scientists, data analysts, computer engineers, software engineers, technologists, government officials, managers, CEOs, professors, graduate students, researchers, and academicians.

Download or read book Research Anthology on Big Data Analytics Architectures and Applications written by Information Resources Management Association and published by Engineering Science Reference. This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Society is now completely driven by data with many industries relying on data to conduct business or basic functions within the organization. With the efficiencies that big data bring to all institutions, data is continuously being collected and analyzed. However, data sets may be too complex for traditional data-processing, and therefore, different strategies must evolve to solve the issue. The field of big data works as a valuable tool for many different industries. The Research Anthology on Big Data Analytics, Architectures, and Applications is a complete reference source on big data analytics that offers the latest, innovative architectures and frameworks and explores a variety of applications within various industries. Offering an international perspective, the applications discussed within this anthology feature global representation. Covering topics such as advertising curricula, driven supply chain, and smart cities, this research anthology is ideal for data scientists, data analysts, computer engineers, software engineers, technologists, government officials, managers, CEOs, professors, graduate students, researchers, and academicians.

Download or read book Predictive Analytics for Business Forecasting Planning written by J. Eric Wilson and published by . This book was released on 2020-12 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Demand Planning with Social Media written by Diana Pilzer and published by . This book was released on 2019 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years the use of social media data to help companies understand their market has increased. There has been a great amount of research to prove the importance of social media when planning demand but the research fails to analyze the biggest online marketplace, Amazon.com. The purpose of this study is to connect previous research on social media's role in demand planning to planning specific to Amazon.com in the US. The market analyzed was the hair care industry and more specifically, hair spray products. By building a webscrapping data tool it was possible to collect and analyze a large amount of data from Amazon and the social media platform Twitter. With an in depth statistical analysis of the Amazon and Twitter data this study compares and identifies the most important variables when selling on Amazon. It concludes with an elasticity analysis to quantify the relationship between Amazon sales and the resulting variables.

Download or read book Digital and Social Media Marketing written by Nripendra P. Rana and published by Springer Nature. This book was released on 2019-11-11 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.

Download or read book Opinion Mining and Sentiment Analysis written by Bo Pang and published by Now Publishers Inc. This book was released on 2008 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey covers techniques and approaches that promise to directly enable opinion-oriented information-seeking systems.

Download or read book The Art and Science of Demand and Supply Chain Planning in Today s Complex Global Economy written by Paul Myerson and published by CRC Press. This book was released on 2023-02-24 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The demand and supply chain planning process for manufacturers, distributors, and retailers has evolved over the years. It has gone from a disjointed, unconnected, slow, inaccurate, fairly manual set of processes to an integrated, timely process enabled by the use and coordination of highly trained people, lean, agile processes, and cutting-edge technology. To make this set of processes work effectively, one has to fully understand and appreciate that there is an "art and science" aspect to the process which can take years of education and experience to fully understand. Essentially, this book will offer the reader a chance to fully understand the interconnected set of processes in a "best-practice" application. Furthermore, examples and cases will be used to illustrate its practical application in today’s complex global supply chain. In addition, readers will understand and be able to apply and articulate the concepts, tools, and techniques used in the efficient supply of goods and services in today’s changing global economy. It will help them to learn how businesses, through their supply chain, work both internally and with their trading partners – both upstream and downstream – to build strong relationships and integrate demand and supply planning activities across the supply chain to deliver customer value efficiently and effectively. They will learn about the tools and technologies enabling integration, and the critical drivers and key metrics of supply chain performance.

Download or read book Big Data Driven Supply Chain Management written by Nada R. Sanders and published by Pearson Education. This book was released on 2014-05-07 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master a complete, five-step roadmap for leveraging Big Data and analytics to gain unprecedented competitive advantage from your supply chain. Using Big Data, pioneers such as Amazon, UPS, and Wal-Mart are gaining unprecedented mastery over their supply chains. They are achieving greater visibility into inventory levels, order fulfillment rates, material and product delivery… using predictive data analytics to match supply with demand; leveraging new planning strengths to optimize their sales channel strategies; optimizing supply chain strategy and competitive priorities; even launching powerful new ventures. Despite these opportunities, many supply chain operations are gaining limited or no value from Big Data. In Big Data Driven Supply Chain Management, Nada Sanders presents a systematic five-step framework for using Big Data in supply chains. You'll learn best practices for segmenting and analyzing customers, defining competitive priorities for each segment, aligning functions behind strategy, dissolving organizational boundaries to sense demand and make better decisions, and choose the right metrics to support all of this. Using these techniques, you can overcome the widespread obstacles to making the most of Big Data in your supply chain — and earn big profits from the data you're already generating. For all executives, managers, and analysts interested in using Big Data technologies to improve supply chain performance.

Download or read book Consumption Based Forecasting and Planning written by Charles W. Chase and published by John Wiley & Sons. This book was released on 2021-08-03 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discover a new, demand-centric framework for forecasting and demand planning In Consumption-Based Forecasting and Planning, thought leader and forecasting expert Charles W. Chase delivers a practical and novel approach to retail and consumer goods companies demand planning process. The author demonstrates why a demand-centric approach relying on point-of-sale and syndicated scanner data is necessary for success in the new digital economy. The book showcases short- and mid-term demand sensing and focuses on disruptions to the marketplace caused by the digital economy and COVID-19. You’ll also learn: How to improve demand forecasting and planning accuracy, reduce inventory costs, and minimize waste and stock-outs What is driving shifting consumer demand patterns, including factors like price, promotions, in-store merchandising, and unplanned and unexpected events How to apply analytics and machine learning to your forecasting challenges using proven approaches and tactics described throughout the book via several case studies. Perfect for executives, directors, and managers at retailers, consumer products companies, and other manufacturers, Consumption-Based Forecasting and Planning will also earn a place in the libraries of sales, marketing, supply chain, and finance professionals seeking to sharpen their understanding of how to predict future consumer demand.

Download or read book Digital Technologies and Applications written by Saad Motahhir and published by Springer Nature. This book was released on 2023-04-27 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents volume 2 of selected research papers presented at the Second International Conference on Digital Technologies and Applications (ICDTA 23). This book highlights the latest innovations in digital technologies as artificial intelligence, Internet of Things, embedded systems, network technology, digital transformation, and their applications in several areas as Industry 4.0, renewable energy, mechatronics, digital healthcare, etc. The respective papers encourage and inspire researchers, industry professionals, and policymakers to put these methods into practice.

Download or read book Intermittent Demand Forecasting written by John E. Boylan and published by John Wiley & Sons. This book was released on 2021-06-02 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: INTERMITTENT DEMAND FORECASTING The first text to focus on the methods and approaches of intermittent, rather than fast, demand forecasting Intermittent Demand Forecasting is for anyone who is interested in improving forecasts of intermittent demand products, and enhancing the management of inventories. Whether you are a practitioner, at the sharp end of demand planning, a software designer, a student, an academic teaching operational research or operations management courses, or a researcher in this field, we hope that the book will inspire you to rethink demand forecasting. If you do so, then you can contribute towards significant economic and environmental benefits. No prior knowledge of intermittent demand forecasting or inventory management is assumed in this book. The key formulae are accompanied by worked examples to show how they can be implemented in practice. For those wishing to understand the theory in more depth, technical notes are provided at the end of each chapter, as well as an extensive and up-to-date collection of references for further study. Software developments are reviewed, to give an appreciation of the current state of the art in commercial and open source software. “Intermittent demand forecasting may seem like a specialized area but actually is at the center of sustainability efforts to consume less and to waste less. Boylan and Syntetos have done a superb job in showing how improvements in inventory management are pivotal in achieving this. Their book covers both the theory and practice of intermittent demand forecasting and my prediction is that it will fast become the bible of the field.” —Spyros Makridakis, Professor, University of Nicosia, and Director, Institute for the Future and the Makridakis Open Forecasting Center (MOFC). “We have been able to support our clients by adopting many of the ideas discussed in this excellent book, and implementing them in our software. I am sure that these ideas will be equally helpful for other supply chain software vendors and for companies wanting to update and upgrade their capabilities in forecasting and inventory management.” —Suresh Acharya, VP, Research and Development, Blue Yonder. “As product variants proliferate and the pace of business quickens, more and more items have intermittent demand. Boylan and Syntetos have long been leaders in extending forecasting and inventory methods to accommodate this new reality. Their book gathers and clarifies decades of research in this area, and explains how practitioners can exploit this knowledge to make their operations more efficient and effective.” —Thomas R. Willemain, Professor Emeritus, Rensselaer Polytechnic Institute.

Download or read book Social Media Data Mining and Analytics written by Gabor Szabo and published by John Wiley & Sons. This book was released on 2018-10-23 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harness the power of social media to predict customer behavior and improve sales Social media is the biggest source of Big Data. Because of this, 90% of Fortune 500 companies are investing in Big Data initiatives that will help them predict consumer behavior to produce better sales results. Social Media Data Mining and Analytics shows analysts how to use sophisticated techniques to mine social media data, obtaining the information they need to generate amazing results for their businesses. Social Media Data Mining and Analytics isn't just another book on the business case for social media. Rather, this book provides hands-on examples for applying state-of-the-art tools and technologies to mine social media - examples include Twitter, Wikipedia, Stack Exchange, LiveJournal, movie reviews, and other rich data sources. In it, you will learn: The four key characteristics of online services-users, social networks, actions, and content The full data discovery lifecycle-data extraction, storage, analysis, and visualization How to work with code and extract data to create solutions How to use Big Data to make accurate customer predictions How to personalize the social media experience using machine learning Using the techniques the authors detail will provide organizations the competitive advantage they need to harness the rich data available from social media platforms.

Download or read book Big Data to Improve Strategic Network Planning in Airlines written by Maximilian Schosser and published by Springer Nature. This book was released on 2019-09-05 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: Big data has become an important success driver in airline network planning. Maximilian Schosser explores the status quo of network planning across a case study group consisting of nine airlines representing different business models. The author describes 23 big data opportunities for airline network planning and evaluates them based on their specific value contribution for airline network planning. Subsequently, he develops a financial evaluation methodology for big data opportunities based on key performance indicators for airline network planning departments.

Download or read book Next Generation Demand Management written by Charles W. Chase and published by John Wiley & Sons. This book was released on 2016-08-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical framework for revenue-boosting supply chain management Next Generation Demand Management is a guidebook to next generation Demand Management, with an implementation framework that improves revenue forecasts and enhances profitability. This proven approach is structured around the four key catalysts of an efficient planning strategy: people, processes, analytics, and technology. The discussion covers the changes in behavior, skills, and integrated processes that are required for proper implementation, as well as the descriptive and predictive analytics tools and skills that make the process sustainable. Corporate culture changes require a shift in leadership focus, and this guide describes the necessary "champion" with the authority to drive adoption and stress accountability while focusing on customer excellence. Real world examples with actual data illustrate important concepts alongside case studies highlighting best-in-class as well as startup approaches. Reliable forecasts are the primary product of demand planning, a multi-step operational supply chain management process that is increasingly seen as a survival tactic in the changing marketplace. This book provides a practical framework for efficient implementation, and complete guidance toward the supplementary changes required to reap the full benefit. Learn the key principles of demand driven planning Implement new behaviors, skills, and processes Adopt scalable technology and analytics capabilities Align inventory with demand, and increase channel profitability Whether your company is a large multinational or an early startup, your revenue predictions are only as strong as your supply chain management system. Implementing a proven, more structured process can be the catalyst your company needs to overcome that one lingering obstacle between forecast and goal. Next Generation Demand Management gives you the framework for building the foundation of your growth.

Download or read book Handbook of Research on Digital Communications Internet of Things and the Future of Cultural Tourism written by Oliveira, Lídia and published by IGI Global. This book was released on 2022-01-28 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital communication is significantly expanding new opportunities and challenges in the tourism industry. Tourists, now more frequently than ever, bring their smartphones with them to every destination, and cultural tourists are particularly motivated to utilize a variety of services and platforms as they are especially open and interested in understanding in detail the places and heritage of the places they visit. Thus, researchers, educators, and professionals in the tourism and hospitality field should take advantage of this opportunity to propose new ways of presenting better content and creating a more immersive and optimized experience for tourists. The Handbook of Research on Digital Communications, Internet of Things, and the Future of Cultural Tourism shares research and experiences on the convergence between digital communication and cultural tourism, specifically the migration and creative appropriation of these technologies for increased tourist engagement and their role in destination marketing and strategic planning and decision making. Covering topics such as big data, e-tourism, and social media platforms, this major reference work is an invaluable resource for researchers, students, professors, academicians, government entities, museum managers, professionals, and cultural tourism managers and facilitators.