By R. Maleku Shrestha, G. Craparotta, S. Thomassey and R. Moore
Sales forecasting is one of the most cost effective methods to enable companies to make informed business decisions. In this paper, a two stage forecasting system is studied. A long-term forecasting system is combined with a short-term forecasting model. The proposed scheme first calculates long-term forecasts based on clustering and classification models while adjusting the effects of discounts and seasonality. These forecasts are then used as a basis for a second, short-term forecasting phase.