- September 29, 2021
- 10:00 AM - 1:30 PM
Deep Learning - Module 1
September 29, 2021
10:00 AM – 1:30 PM
Demand Forecasting using Deep Learning Techniques
This workshop is in association with:
Demand Forecasting is a technique of predicting the future based on the analysis of data and events from the past. It will help to reduce the uncertainty of the future. Since future is uncertain no one will be able to exactly predict the future. But a good forecasting system will reduce the amount of uncertainty in the future and thereby reducing the risk.
Given the growing availability of data and Computing power in recent years deep learning has become a fundamental part of Forecasting methods. As we go along Supply chains have become longer, Markets have become Global and consequently data generation process has become complex which unfortunately previous forecasting methods are unable to capture. This in turn generates inaccurate forecasts.
Deep Learning with what we call Recurrent Neural Networks are able to map complex data generating process but also remember how much old information to be dropped when new information enters the system. Earlier forecasting techniques have limitations in handling variety of data sources like Customer reviews , Click stream data , CRM Systems data in the form of voice , Social media interaction etc.
There are three major forecasting categories. They are Economic Forecasts, Technology Forecasts & Demand forecasts. There are slight variations in the techniques used but about 60-70% are common. For this master class we will focus on demand forecasting.
Demand forecasting typically starts with a model generated demand plan using past data adds additional intelligence to generate future forecasts. Additional intelligence may be in the form of Events, competitor moves, Company and Industry news analysis.
Some of the benefits of demand forecasting are:
– Increase in Sales from Better Product Availability
– Accurate Stock allocation
– Increase in inventory turns as a result of reduced safety stock
– Optimum capacity planning & improved visibility in Supply Chain.
Workshop Schedule
The workshop will be held on Wednesday, 29 September, 2021 from 10:00 AM – 1:30 PM.
- Introduction to Forecasting
- Introduction to basics of Machine Learning
- Fundamentals of Deep Learning , Recurrent Neural Networks and their applicability in Forecasting
- Introduction to demand forecasting – applications in businesses
- Use case demo of Demand Forecasting using KNIME DEEP LEARNING Real life data set
- Q&A
Who should attend?
This workshop will be highly beneficial for Demand Planning Team members, Marketing Managers, Financial Analysts, Business Analysts, and Data Scientists in Manufacturing, E Commerce FMCG, Service sector, who would want to apply these techniques in their businesses operations. Also to those who have ZERO programming language experience. Only Microsoft EXCEL knowledge is required.
About the Speaker
Dr. Chandrashekar Subramanyam
Senior Professor , Jagdish Sheth school of Management
Regarded as one of the top Analytics Professor in the country today, he was the Chair Professor (July 1998 – Feb 2013) & officiating Director (April 2009 to Jan 2010) at FORE School of Management, New Delhi. He joined FORE School in 1988 as Senior Professor. There he also headed the software development function that saw building of prototype of products in areas of Business Intelligence, Risk Management, and Customer Relations Management.
He holds a Ph.D. from the University of Georgia, USA, Masters & Bachelors from IIT Kanpur and has a vast experience of more than 34 years in R&D, Academic & Industry in the area of Quantitative Techniques & IT. He teaches courses in the area of IT, Quantitative Techniques, Text Mining and Sentiment Analysis, and Advanced Market Research. He worked as Professor and Area Chair of Quantitative and Information systems group at IIM Lucknow for about ten years. He was the Member Secretary to IIM Lucknow Board for about three years. He was also a visiting Professor at Manchester Business School for about a year under Euro India exchange program.
Dr Chandrashekar has published in several International and National Journals and presented papers and chaired sessions at National and International forums. He has patents to his credit having filed a patent jointly with IFIM. He is working on his next patents in the area of Text Mining and Financial Analytics..
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