Predictive Analysis for Retail Shops using Machine Learning for Maximizing Revenue

The issue of difficulties in controlling the inventory of small retailers with limited space and limited capital to buy just a few merchandises has just been led due to the continuous increase in the variety of products. In order to successfully manage the inventory of small stores, this article intends to investigate several machine learning algorithms for forecasting future product demand. The quality of the forecasts that are offered has a significant impact on the effectiveness of procedures not only in retail locations but also throughout the supply chain they are a part of Nowadays, there is a large amount of information that can be cleansed and used for forecasting by utilizing the right machine learning algorithms. This prediction system will help small retail shop owners in maximizing their profit margins. Along with sales forecasting, this study intends to perform customer segmentation to make effective decisions in order to generate a good amount of revenue.