Data challenges and remedies of demand forecast in fashion business

Abstract

The sales forecast is an essential aspect in the area of fashion business. In particular, forecasting the future demand for fashion goods is much harder due to some reasons such as short life span of the products, seasonal effects, available sales history etc. There are various traditional and advanced forecasting techniques available for forecast the demand. But all those models perform well only if we consider data in a proper way. The present study explains the different types of data challenges which occurs very frequently while forecasting the demand for fashion goods. Along with the issues, it addresses their remedies as well.