Conference Name: Korean Institute of Communications and Information Sciences (KICS Winter 2024) Conference
Abstract: Automotive sales forecasting is integral to the automobile commerce industry, necessitating precise decision-making for sustained profitability among car retailers. This study employs the Prophet time-series model to predict future sales patterns, aiming to maximize sales opportunities. Preliminary results highlight the Prophet model's features, including automatic seasonality detection, flexible trend modeling, robustness to missing data, and a user-friendly interface. Additionally, the RMSE, MSE, and MAE, derived from the application of the Prophet model on the car sales dataset are 1050.32, 1103170.27, and 887.74 respectively.
Status: Accepted
Conference Type: Domestic
Cite: Ebuka C Nkoro, Judith N Njoku, Cosmas I Nwakanma, Jae-Min Lee , Dong-Seong Kim,"Prophet-Based Time Series Model for Automotive Sales Prediction", Korean Institute of Communications and Information Sciences (KICS Winter 2024) Conference, Yong Pyong Resort, Pyeongchang, Korea, January 31 - February 2,