Next steps for forecasting new product demand on AWS

Before you embark on NPI demand forecast solutions, evaluate the data maturity level of your organization with business owners, data scientists, and data engineers. The outcome of this discussion should be an understanding of where your organization is and identification of any gaps. Then, it is critical to identify data owners and determine the extent of the historical data accessible within your organization. For example, determine how much sales history data you have for related products and for related datasets. It is also important to have data scientists interact with the business owners frequently to obtain domain knowledge. This domain knowledge translates to relevant features in the ML model, which can boost the forecasting model's performance.