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Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
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There are 3 modules in this course
In this course, we'll make predictions on product usage and calculate optimal safety stock storage. We'll start with a time series of shoe sales across multiple stores on three different continents. To begin, we'll look for unique insights and other interesting things we can find in the data by performing groupings and comparing products within each store. Then, we'll use a seasonal autoregressive integrated moving average (SARIMA) model to make predictions on future sales. In addition to making predictions, we'll analyze the provided statistics (such as p-score) to judge the viability of using the SARIMA model to make predictions. Then, we'll tune the hyper-parameters of the model to garner better results and higher statistical significance. Finally, we'll make predictions on safety stock by looking to the data for monthly usage predictions and calculating safety stock from the formula involving lead times.
In this module, we'll get acquainted with our dataset by exploring some of the most obvious groupings and identifying the variation in products. We'll discover which products sell where and prepare ourselves to use timeseries forecasts and safety stock predictions.
In this module, we'll use the SARIMA model to make predictions on future sales. We'll then visualize some of these predicted sales before evaluating the accuracy and viability of our chosen model.
Part II: Using SARIMA for Sales Predictions•180 minutes
1 ungraded lab•Total 10 minutes
Programming Assignment Solutions•10 minutes
Calculating Safety Stock
Module 3•3 hours to complete
Module details
In this module, we'll finish the project by calculating safety stock from monthly usage and lead times. We'll start by grouping products in order to find more accurate usage numbers. Then, we'll conclude by using the known formula along with our insights from the data in the calculation of safety stock for each product.
What's included
2 videos1 programming assignment1 ungraded lab
Show info about module content
2 videos•Total 2 minutes
Module Intro•1 minute
Introduction to Part III•1 minute
1 programming assignment•Total 180 minutes
Part III: Predicting Safety Stock•180 minutes
1 ungraded lab•Total 10 minutes
Programming Assignment Solutions•10 minutes
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Is financial aid available?
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