Sales forecasting is critical to business success, laying the foundation for anticipating future demand and improving inventory management and marketing strategies. Recognizing the importance of sales forecasting, this project leverages a dataset from Kaggle's “Walmart - Recruitment Prediction Competition” covering weekly sales from February 5, 2010, to November 1, 2012, and uses XGBoost, a powerful machine learning algorithm known for its efficiency and accuracy, combined with optimization techniques to achieve optimal performance. We aim to deliver a scalable and accurate sales forecasting solution that supports data-driven decision-making in the retail industry and beyond. The accuracy achieved in our project significantly outperformed the top-performing models from the Kaggle competition using the same dataset.

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Improving Retail Sales Forecast Accuracy Using XGBoost: A Machine Learning Approach

  • A. Biyasu,
  • Mao Zheng

摘要

Sales forecasting is critical to business success, laying the foundation for anticipating future demand and improving inventory management and marketing strategies. Recognizing the importance of sales forecasting, this project leverages a dataset from Kaggle's “Walmart - Recruitment Prediction Competition” covering weekly sales from February 5, 2010, to November 1, 2012, and uses XGBoost, a powerful machine learning algorithm known for its efficiency and accuracy, combined with optimization techniques to achieve optimal performance. We aim to deliver a scalable and accurate sales forecasting solution that supports data-driven decision-making in the retail industry and beyond. The accuracy achieved in our project significantly outperformed the top-performing models from the Kaggle competition using the same dataset.