Armonk, N.Y. Retailers of electronics and appliances in the United States are expected to grow sales of those products by $953 million in June, July and August, according to an analytics-based forecast produced by IBM. The forecast represents a 4% increase compared with the same period last year.
The IBM forecast is produced using statistical and analytical software to perform Holt-Winters Triple Exponential Smoothing, which evaluates both the long-term trend and seasonal peaks. IBM consultants use these predictive techniques to help clients improve performance by addressing complex issues of supply and demand as well as aiding in planning product mix, new store locations, and staffing.
“Retailing is an extremely dynamic industry, affected by powerful factors ranging from the economy to fast-moving trends,” said Dr. Michael Haydock, GBS partner. “Analytics gives retailers a window into the future that enables them to make better decisions, increase return on investment and provide customers with the products they want.”
In producing the forecast, IBM uses economic data gathered by the U.S. Census Bureau.