Journal Section

Open Journal of Business Entrepreneurship and Marketing

Open Access
Cite Score: 0.3 Impact Factor: 0.5
Enhancing Sales Forecasting Accuracy through DBSCAN Clustering and Ensemble Modeling Techniques.
Author's Details

Name: Hasan Mahmud Sozib

Email: sozib2019@gmail.com

Department: Department of Electrical and Electronic Engineering

Affiliation Number: 1

Address: 141 & 142, Love Road, Tejgaon, Dhaka, 1208, Bangladesh

Affiliations

1 Department of Electrical and Electronic Engineering, Ahsanullah University of Science and Technology, 141 & 142, Love Road, Tejgaon, Dhaka, 1208, Bangladesh

Abstract
This study aims to enhance sales forecasting accuracy by integrating clustering techniques with ensemble predictive modeling. The primary objectives include identifying distinct sales patterns and developing a robust forecasting model that leverages these insights. The analysis utilized a dataset of weekly sales transactions, employing the DBSCAN algorithm for clustering to uncover underlying sales patterns. Subsequently, various regression techniques, including Linear Regression, Random Forest Regression, and Gradient Boosting Regression, were applied. The results from these models were integrated into an updated ensemble model, which demonstrated improved predictive performance. The ensemble model achieved a Mean Absolute Error (MAE) of 0.516 and an R-squared value of 0.993, significantly outperforming traditional regression models. The clustering results, visualized through Principal Component Analysis (PCA), provided valuable insights into customer behavior and sales trends, allowing for more accurate forecasts. These findings suggest that integrating advanced analytics into sales forecasting can lead to better strategic decision-making. This study underscores the significance of combining clustering and ensemble modeling techniques in sales forecasting. By capturing complex sales patterns and improving predictive accuracy, organizations can optimize their operational strategies and enhance overall business performance. The research contributes to the growing body of lite...

Keywords: 

Sales forecasting-DBSCAN-Ensemble Modeling-Predictive Analytics-Machine Learning-Regression techniques

Citation

Share

This article is Open Access CC BY-NC
Article Information
Article Type
Research Paper
Submitted
12 July, 2024
Revised
06 August, 2024
Accepted
21 August, 2024
Online First
28 August, 2024
Centered Image 1.7k

Total Views

Centered Image 0.5k

Downloads

Centered Image 0

Citations

This tab lists articles citing this work.
©Copyright 2024 C5K All rights reserved.