Demand Forecasting Analytics Prototype

The partner organization, Granularity LTD, helps businesses use demand forecasting to capitalize on market trends. At the start of the pandemic, half of all grocery stores in the U.S. were out of toilet paper despite manufacturing being operational. The inconsistencies of demand in the COVID-19 pandemic awoke business leaders to the realization that their demand forecasting capabilities can’t keep up. After speaking to subject matter experts in the space in over two dozen market interviews, including demand planning executives for large retailers and manufacturers, there is a clear gap in understanding end customer behaviour and how it impacts demand. This is a burning need that we are aiming to solve. We want to build a solution that specializes in conveying end-customer behaviour and insights to businesses. The key to understanding this behaviour is data. Our proposed project will infuse demand forecasting with machine learning and big data; incorporating social media sentiment, google search trends and other datasets to enhance demand prediction. Now, a grocery store using our solution would have the demand forecasting capability to pre-emptively see the increased demand for toilet paper — allowing the business to drive millions in potential revenue.

Faculty Supervisor:

Umair Rehman

Student:

Partner:

Granularity

Discipline:

Business

Sector:

Professional, scientific and technical services

University:

Wilfrid Laurier University

Program: