Research on the Construction of Sales Forecasting Model of Fashion Products Based on Feature Representation of Multimodal and Deep Learning

By improving the accuracy of sales forecasting, this paper provides support for fashion product sales enterprises to make better inventory management and operational decisions. The deep neural network is introduced into the construction of multimodal features, and the internal structure of different modes, such as historical sales features, picture features, and basic attribute features of products, are fully considered, and finally the sales forecasting model of fashion products based on multimodal feature fusion is constructed. In addition, combined with the actual data of the enterprise, the proposed model is compared with the exponential regression model and shallow neural network model. The paper finds that multimodal features and deep learning representation method has better performance than traditional methods (exponential regression and shallow neural network) in the task of predicting sales of fashion products. The results help enterprises use the deep learning method and the data of multiple modal to make accurate sales forecast

Predicting product sales in fashion retailing: a data analytics approach

No mercado de retalho de moda, uma determinação errônea dos montantes a comprar de cada artigo pelos fornecedores, seja por excesso ou defeito, pode resultar em custos desnecessários de armazenamento ou vendas perdidas, respectivamente. Ambas as situações devem ser evitadas pelas empresas, como tal surge a necessidade de determinar as quantidades de compras de uma forma precisa. Atualmente, as empresas recolhem grandes quantidades de dados referentes às suas vendas e características dos seus produtos. No passado, essa informação raramente era analisada e integrada no processo de tomada de decisão. No entanto, o aumento da capacidade de processamento de informações promoveu o uso da análise de dados como meio para obter conhecimento e apoiar os responsáveis pela tomada de decisão com o objetivo de alcançar melhores resultados comerciais. Portanto, o desenvolvimento de modelos que utilizem os diferentes fatores que influenciam as vendas e produzem previsões precisas de vendas futuras representam uma estratégia muito promissora. Os resultados obtidos podem ser muito valiosos para as empresas, pois permitem que as empresas alinhem o valor a comprar aos fornecedores com as vendas potenciais.Este projeto visa explorar o uso de técnicas de extração de dados para otimizar as quantidades de compra de cada produto vendido por uma empresa de retalho de moda. O projeto resulta no desenvolvimento de um modelo que usa dados de vendas anteriores dos produtos com características semelhantes para prever a quantidade que a empresa venderá potencialmente dos novos produtos. O projeto usará como um caso de estudo uma empresa de retalho de moda portuguesa.Para validar o modelo, serão utilizadas várias medidas de regressão linear para quantificar a qualidade do modelo.In the retail context, an erroneous determination of the amounts to buy of each article from the suppliers, either by excess or defect, can result in unnecessary costs of storage or lost sales, respectively. Both situations should be avoided by companies, which promotes the need to determine purchase quantities efficiently. Currently companies collect huge amounts of data referring to their sales and products' features. In the past, that information was seldom analyzed and integrated in the decision making process. However, the increase of the information processing capacity has promoted the use of data analytics as a means to obtain knowledge and support decision makers inachieving better business outcomes. Therefore, the development of models which use the different factors which influences sales and produces precise predictions of future sales represents a very promising strategy. The results obtained could be very valuable to the companies, as they enable companies to align the amount to buy from the suppliers with the potential sales.This project aims at exploring the use of data mining techniques to optimize the amounts to buy of each product sold by a fashion retail company. The project results in the development of a model that uses past sales data of the products with similar characteristics to predict the quantity the company will potentially sell from the new products. The project will use as a case study a Portuguese fashion retail company.To validate the model it will be used several linear regression measures to quantify model quality

A new and efficient intelligent collaboration scheme for fashion design

Technology-mediated collaboration process has been extensively studied for over a decade. Most applications with collaboration concepts reported in the literature focus on enhancing efficiency and effectiveness of the decision-making processes in objective and well-structured workflows. However, relatively few previous studies have investigated the applications of collaboration schemes to problems with subjective and unstructured nature. In this paper, we explore a new intelligent collaboration scheme for fashion design which, by nature, relies heavily on human judgment and creativity. Techniques such as multicriteria decision making, fuzzy logic, and artificial neural network (ANN) models are employed. Industrial data sets are used for the analysis. Our experimental results suggest that the proposed scheme exhibits significant improvement over the traditional method in terms of the time–cost effectiveness, and a company interview with design professionals has confirmed its effectiveness and significance

Applicability of artificial intelligence in e-commerce fashion platforms

A inovação tecnológica e a democratização da inteligência artificial (IA) têm vindo a alavancar o potencial de sucesso em todas as áreas que conhecemos hoje, com expectativas do que ainda está para vir. A presente dissertação propõe uma análise das aplicações da IA na indústria da moda, particularmente nas plataformas de marcas de moda do comércio eletrónico, e de que forma está a ter impacto na esfera pessoal do consumidor, particularmente no processo de tomada de decisão dos consumidores da Geração Z. O âmbito da IA tem vindo a evoluir de tal forma que permitiu às empresas não só melhorar a sua oferta e a procura dos clientes, como também proporcionar uma experiência de compra que vai para além da “seleção e compra” mecânica: os pontos de contacto impulsionados pela IA influenciam e enriquecem cada fase do processo de tomada de decisão, seja de forma mais positiva ou negativa. Em última análise, esta dissertação pretende proporcionar ao leitor um melhor conhecimento sobre a IA e o comércio eletrónico de moda, bem como delinear o seu impacto no comportamento online do consumidor.Technological innovation and democratization of artificial intelligence (AI) have been leveraging the potential success in every field we know today, while more is yet to come. The following dissertation proposes an analysis of AI achievements within the fashion industry, particularly in e-commerce fashion brand platforms, and how it is impacting the consumer personal sphere, particularly the decision-making process of Gen-Z consumers. The field of AI has been evolving in such a way that allows companies to not only improve their supply and customer demand, but also provide a shopping experience that goes beyond the mechanical “select and buy“: AI-driven touchpoints influence and enrich each stage of the decision-making process, whether more positively or negatively. Ultimately, this dissertation intends to provide the reader a better knowledge of AI and fashion e-commerce joining applications, and to delineate its impact on the online customer journey

Industry 4.0 and the future of manufacturing. Theoretical base and empirical analyses

A new industrial revolution \u2013 also called \u201cIndustry 4.0\u201d \u2013 is unfolding fueled by the introduction of broadly interconnected digital technologies, including the Internet of Things, cloud computing, artificial intelligence and additive manufacturing. Many industries are witnessing the entrance of new players integrating new technologies into disruptive business models; incumbents are also urged to rethink how they operate against trends that are expected to further accelerate in the current pandemic situation. The overarching aim of the research presented in this doctoral dissertation is to investigate to what extent Industry 4.0 represents a fundamental challenge to existing paradigms and requires researchers to modify their theoretical frameworks to approach emerging issues. With this in mind, each chapter can be seen as a step forward in journey whereby some core issues come progressively into focus. The starting point is a conceptual work analyzing the phenomenon \u2013 \u201cIndustry 4.0\u201d and similar labels \u2013 and its underlying technological and non-technological components. As a second step \u2013 under the assumption of Industry 4.0 having paradigmatic properties comparable to previous industrial revolutions \u2013 potential new configurations of manufacturing value chains are investigated. Through a future-oriented expert study, eight scenarios are conceived identifying critical drivers to value chain configurations. Finally, one of these critical drivers \u2013 data sharing in inter-organizational relationships \uac\u2013 is investigated through the development of a multiple case study analysis in the automotive sector. The contribution of this dissertation to the academic debate is at least twofold. On the one hand, the research highlights the cornerstones of the phenomenon to make sense of its overarching features and building elements. This contributes to lay solid theoretical foundations needed to advance the understanding in the field. On the other hand, my empirical investigations suggest that several barriers counterbalance the technological drivers for change, posing significant questions as for when and how the future of manufacturing will materialize. Overall, an approach focused on understanding how technologies influence the assumptions behind the current reasoning might lead at a synthesis between \u201cold\u201d and \u201cnew\u201d elements in the Industry 4.0 phenomenon

DECISION SUPPORT IN CAR LEASING: A FORECASTING MODEL FOR RESIDUAL VALUE ESTIMATION

The paper proposes a methodology to support pricing decisions in the car leasing industry. In particular, the price is given by the monthly fee to be paid by the lessee as compensation for using a car over some contract horizon. After contract expiration, lessors are obliged to take back the vehicle, which will then be sold in the used car market. Therefore, lessors require an accurate estimate of cars’ residual values to manage the risk inherent to their business and determine profitable prices. We explore the organizational and technical requirements associated with this forecasting task and develop a prediction model that complies with identified application constraints. The model is rigorously tested within an empirical study and compared to established benchmarks. The results obtained in several experiments provide strong evidence for the proposed model being effective in generating accurate predictions of cars’ residual values and efficient in requiring little user intervention

Improving Demand Forecasting: The Challenge of Forecasting Studies Comparability and a Novel Approach to Hierarchical Time Series Forecasting

Bedarfsprognosen sind in der Wirtschaft unerlässlich. Anhand des erwarteten Kundenbe-darfs bestimmen Firmen beispielsweise welche Produkte sie entwickeln, wie viele Fabri-ken sie bauen, wie viel Personal eingestellt wird oder wie viel Rohmaterial geordert wer-den muss. Fehleinschätzungen bei Bedarfsprognosen können schwerwiegende Auswir-kungen haben, zu Fehlentscheidungen führen, und im schlimmsten Fall den Bankrott einer Firma herbeiführen. Doch in vielen Fällen ist es komplex, den tatsächlichen Bedarf in der Zukunft zu antizipie-ren. Die Einflussfaktoren können vielfältig sein, beispielsweise makroökonomische Ent-wicklung, das Verhalten von Wettbewerbern oder technologische Entwicklungen. Selbst wenn alle Einflussfaktoren bekannt sind, sind die Zusammenhänge und Wechselwirkun-gen häufig nur schwer zu quantifizieren. Diese Dissertation trägt dazu bei, die Genauigkeit von Bedarfsprognosen zu verbessern. Im ersten Teil der Arbeit wird im Rahmen einer überfassenden Übersicht über das gesamte Spektrum der Anwendungsfelder von Bedarfsprognosen ein neuartiger Ansatz eingeführt, wie Studien zu Bedarfsprognosen systematisch verglichen werden können und am Bei-spiel von 116 aktuellen Studien angewandt. Die Vergleichbarkeit von Studien zu verbes-sern ist ein wesentlicher Beitrag zur aktuellen Forschung. Denn anders als bspw. in der Medizinforschung, gibt es für Bedarfsprognosen keine wesentlichen vergleichenden quan-titativen Meta-Studien. Der Grund dafür ist, dass empirische Studien für Bedarfsprognosen keine vereinheitlichte Beschreibung nutzen, um ihre Daten, Verfahren und Ergebnisse zu beschreiben. Wenn Studien hingegen durch systematische Beschreibung direkt miteinan-der verglichen werden können, ermöglicht das anderen Forschern besser zu analysieren, wie sich Variationen in Ansätzen auf die Prognosegüte auswirken – ohne die aufwändige Notwendigkeit, empirische Experimente erneut durchzuführen, die bereits in Studien beschrieben wurden. Diese Arbeit führt erstmals eine solche Systematik zur Beschreibung ein. Der weitere Teil dieser Arbeit behandelt Prognoseverfahren für intermittierende Zeitreihen, also Zeitreihen mit wesentlichem Anteil von Bedarfen gleich Null. Diese Art der Zeitreihen erfüllen die Anforderungen an Stetigkeit der meisten Prognoseverfahren nicht, weshalb gängige Verfahren häufig ungenügende Prognosegüte erreichen. Gleichwohl ist die Rele-vanz intermittierender Zeitreihen hoch – insbesondere Ersatzteile weisen dieses Bedarfs-muster typischerweise auf. Zunächst zeigt diese Arbeit in drei Studien auf, dass auch die getesteten Stand-der-Technik Machine Learning Ansätze bei einigen bekannten Datensät-zen keine generelle Verbesserung herbeiführen. Als wesentlichen Beitrag zur Forschung zeigt diese Arbeit im Weiteren ein neuartiges Verfahren auf: Der Similarity-based Time Series Forecasting (STSF) Ansatz nutzt ein Aggregation-Disaggregationsverfahren basie-rend auf einer selbst erzeugten Hierarchie statistischer Eigenschaften der Zeitreihen. In Zusammenhang mit dem STSF Ansatz können alle verfügbaren Prognosealgorithmen eingesetzt werden – durch die Aggregation wird die Stetigkeitsbedingung erfüllt. In Expe-rimenten an insgesamt sieben öffentlich bekannten Datensätzen und einem proprietären Datensatz zeigt die Arbeit auf, dass die Prognosegüte (gemessen anhand des Root Mean Square Error RMSE) statistisch signifikant um 1-5% im Schnitt gegenüber dem gleichen Verfahren ohne Einsatz von STSF verbessert werden kann. Somit führt das Verfahren eine wesentliche Verbesserung der Prognosegüte herbei. Zusammengefasst trägt diese Dissertation zum aktuellen Stand der Forschung durch die zuvor genannten Verfahren wesentlich bei. Das vorgeschlagene Verfahren zur Standardi-sierung empirischer Studien beschleunigt den Fortschritt der Forschung, da sie verglei-chende Studien ermöglicht. Und mit dem STSF Verfahren steht ein Ansatz bereit, der zuverlässig die Prognosegüte verbessert, und dabei flexibel mit verschiedenen Arten von Prognosealgorithmen einsetzbar ist. Nach dem Erkenntnisstand der umfassenden Literatur-recherche sind keine vergleichbaren Ansätze bislang beschrieben worden

Apparel recommendation system evolution: an empirical review

Purpose: With the developments of e-commerce markets, novel recommendation technologies are becoming an essential part of many online retailers' economic models to help drive online sales. Initially, the purpose of this paper is to undertake an investigation of apparel recommendations in the commercial market in order to verify the research value and significance. Then, this paper reviews apparel recommendation techniques and systems through academic research, aiming to acquaint apparel recommendation context, summarize the pros and cons of various research methods, identify research gaps and eventually propose new research solutions to benefit apparel retailing market. Design/methodology/approach: This study utilizes empirical research drawing on 130 academic publications indexed from online databases. The authors introduce a three-layer descriptor for searching articles, and analyse retrieval results via distribution graphics of years, publications and keywords. Findings: This study classified high-tech integrated apparel systems into 3D CAD systems, personalised design systems and recommendation systems. The authors' research interest is focussed on recommendation system. Four types of models were found, namely clothes searching/retrieval, wardrobe recommendation, fashion coordination and intelligent recommendation systems. The forth type, smart systems, has raised more awareness in apparel research as it is equipped with advanced functions and application scenarios to satisfy customers. Despite various computational algorithms tested in system modelling, existing research is lacking in terms of apparel and users profiles research. Thus, from the review, the authors have identified and proposed a more complete set of key features for describing both apparel and users profiles in a recommendation system. Originality/value: Based on previous studies, this is the first review paper on this topic in this subject field. The summarised work and the proposed new research will inspire future researchers with various knowledge backgrounds, especially, from a design perspective

Artificial Intelligence in the Service of Entrepreneurial Finance: Knowledge Structure and the Foundational Algorithmic Paradigm

While the application of Artificial Intelligence in Finance has a long tradition, its potential in Entrepreneurship has been intensively explored only recently. In this context, Entrepreneurial Finance is a particularly fertile ground for future Artificial Intelligence proliferation. To support the latter, the study provides a bibliometric review of Artificial Intelligence applications in (1) entrepreneurial finance literature, and (2) corporate finance literature with implications for Entrepreneurship. Rigorous search and screening procedures of the scientific database Web of Science Core Collection resulted in the identification of 1890 relevant journal articles subjected to analysis. The bibliometric analysis gives a rich insight into the knowledge field's conceptual, intellectual, and social structure, indicating nascent and underdeveloped research directions. As far as we were able to identify, this is the first study to map and bibliometrically analyze the academic field concerning the relationship between Artificial Intelligence, Entrepreneurship, and Finance, and the first review that deals with Artificial Intelligence methods in Entrepreneurship. According to the results, Artificial Neural Network, Deep Neural Network and Support Vector Machine are highly represented in almost all identified topic niches. At the same time, applying Topic Modeling, Fuzzy Neural Network and Growing Hierarchical Self-organizing Map is quite rare. As an element of the research, and before final remarks, the article deals as well with a discussion of certain gaps in the relationship between Computer Science and Economics. These gaps do represent problems in the application of Artificial Intelligence in Economic Science. As a way to at least in part remedy this situation, the foundational paradigm and the bespoke demonstration of the Monte Carlo randomized algorithm are presented