Amazing technological breakthrough possible @S-Logix

Office Address

  • #5, First Floor, 4th Street Dr. Subbarayan Nagar Kodambakkam, Chennai-600 024 Landmark : Samiyar Madam
  • +91- 81240 01111

Social List

Exploring the use of deep neural networks for sales forecasting in fashion retail - 2018

Exploring The Use Of Deep Neural Networks For Sales Forecasting In Fashion Retail

Research Paper on Exploring The Use Of Deep Neural Networks For Sales Forecasting In Fashion Retail

Research Area:  Machine Learning


In the increasingly competitive fashion retail industry, companies are constantly adopting strategies focused on adjusting the products characteristics to closely satisfy customers requirements and preferences. Although the lifecycles of fashion products are very short, the definition of inventory and purchasing strategies can be supported by the large amounts of historical data which are collected and stored in companies databases. This study explores the use of a deep learning approach to forecast sales in fashion industry, predicting the sales of new individual products in future seasons. This study aims to support a fashion retail company in its purchasing operations and consequently the dataset under analysis is a real dataset provided by this company. The models were developed considering a wide and diverse set of variables, namely products physical characteristics and the opinion of domain experts. Furthermore, this study compares the sales predictions obtained with the deep learning approach with those obtained with a set of shallow techniques, i.e. Decision Trees, Random Forest, Support Vector Regression, Artificial Neural Networks and Linear Regression. The model employing deep learning was found to have good performance to predict sales in fashion retail market, however for part of the evaluation metrics considered, it does not perform significantly better than some of the shallow techniques, namely Random Forest.

Deep Neural Networks
Sales Forecasting
Fashion Retail
Machine Learning
Deep Learning

Author(s) Name:  A.L.D.Loureiro,V.L.MiguĂ©is and Lucas F.M.da Silva

Journal name:  Decision Support Systems

Conferrence name:  

Publisher name:  ELSEVIER

DOI:  10.1016/j.dss.2018.08.010

Volume Information:  Volume 114, October 2018, Pages 81-93