COMPUTER-BASED FORECASTING OF MARKET DEMAND FOR A NEW PRODUCT

摘要

The functions and capabilities of a computer are improved by programming the computer to provide market demand forecasts for a new product that are more accurate than forecasts generated using conventional approaches. A demand forecast for a new product is generated by pairing or associating a set of one or more existing products with the new product, receiving historical sales data for the existing product, separating the historical sales data into a plurality of discrete components, constructing a respective feature-based predictive model for each of corresponding components of the plurality of discrete components, generating a corresponding prediction from each respective feature-based predictive model for each of the plurality of discrete components, and aggregating each corresponding prediction for each of the plurality of discrete components to generate the demand forecast for the new product.