How to Set AI Prediction Timeframe in ForecxtIQ

Optimize your inventory management by predicting future demand with ForecxtIQ’s AI-powered forecasting tool. Follow these steps to set up the prediction timeframe for your Shopify store.

Steps to Set AI Prediction Timeframe:

1. Access AI Training Settings:
In the ForecxtIQ dashboard, go to Settings and click on the AI Training menu from the left-hand navigation bar.

2. Set the Prediction Timeframe:
Define the future timeframe for which the ForecxtIQ AI Model will forecast demand for your store’s products. This helps in managing stock levels efficiently and preventing overstock or stockouts.

3. Generate Order Data:
To accurately forecast demand, ForecxtIQ’s AI model requires at least 12 months of order data. Using the past 3 months of Shopify order data, ForecxtIQ will generate the remaining 9 months of data using the Simple Moving Average technique, ensuring precise demand prediction.

By following these steps in ForecxtIQ, you can set up reliable AI-driven demand forecasts, helping you streamline inventory management and boost your store’s efficiency.

ForecxtIQ is an AI-driven demand planning SaaS solution utilizing specialized machine learning models for forecasting demand and revenue projection, enabling efficient resource allocation and optimal inventory maintenance. As a comprehensive inventory management program, it offers features like demand forecasting with historical sales data and What-If Analysis, categorizing products into ABC classes, and an AI Copilot for decision support. The platform also optimizes supplier and purchase order management, integrates seamlessly with Shopify inventory management, ensures no missed sales through backorder management, and assists in product management with stock alert notifications. With streamlined operations, proactive inventory management, and advanced sales forecasting, ForecxtIQ empowers businesses to make data-driven decisions, reduce churn, and boost revenue.