Model for Predictive Production

摘要

A market consisting of dealers, distributors, and wholesalers for continuously meeting the market demand depends on the huge amount of data which they generated. In order to function in a critical or efficient way, the data needs to be analyzed which will have a huge impact on using the resources in an efficient and optimized procedure. To be precise, here we are dealing with minimum wastage of resource for using resource efficiently. This simply calls the idea of predictive production in which we plan our production according to the sales received or demand the goods in the respective market by using the data analytical algorithms. Django, the web framework of Python facilitates with the advantage of building powerful web applications for different purposes. In this case, SQLite3 is used for storing data and basically acts as the database. This paper talks about the analytical algorithm of predictive production. Talking of analytical algorithm, this algorithm is specifically a part of business analytical algorithms. Here the concepts of Business intelligence are talked of and this algorithm itself speaks about how to optimize production with the given set of resources. Higher profit gains for the firm at the lower cost incurred is the aim behind this algorithm.