SYSTEMS AND METHODS FOR PARTS FORECASTING
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United States of America Patent
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Issued Date -
Dec 24, 2015
app pub date -
Jun 23, 2014
filing date -
Jun 23, 2014
priority date (Note) -
Published
status (Latency Note)
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Abstract
Systems and methods are disclosed for forecasting future sales of a part. The system includes at least one processor configured with instructions to collect historical sales data of the part, collect historical telematics data from one or more machines including the part, and collect historical econometric data relevant to the part. The at least one processor also generates a group of candidate predictors from the historical telematics data and the historical econometric data, select predictors from the group of candidate predictors, and establish a forecasting model representing a relationship between the selected predictors and the historical sales data of the part. The at least one processor forecasts future sales of the part by using the established forecasting model.
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