Question

What data do you need to predict future store sales?

Answer 1

Sales prediction means predicted data is a time series. Time series data will have auto correlation so earlier values can be used to predict future values.For this you can use any time series forecasting methods.

The first step of the analysis is to study the available information from the drug store.

Secondly, we are going to study how the sales are distributed along the month.

Lastly, it is also important to take a look at the number of sales by weekday.

Most probably Sunday is the day preferred by the customers to buy in this retail shop. During the rest of the week, the sales decreases.

The next step is to select and prepare the variables that we are going to use.

Once the variables have been defined, we can calculate the dependencies between all the inputs and the target.

This is all neccessary information is needed for predicting the future store sales.