What makes the food industry an appealing sector for applying time series forecasting ?
Gabriel de Lisle, Data Scientist Deepsight
Restaurants and food stores share a common dilemma: on one hand they want to maximize the amount of products they sell and prevent any shortage from happening. On the other hand they do not want to risk massive wastes of their products. Indeed, the shelf life of fruits, vegetables, or prepared fresh products is shorter than in any other industry, and for this reason, it is a major issue to anticipate the demand. At Deepsight we aim at applying recent progress in the time series field on accumulated sales data to help our clients and predict their future sales with more accuracy. In this article, we will have a look at the data to find out what characteristics would be useful for forecasting.