Forecasting Demand with AI and Analytics

Type of course:

Digital learning, Lesson

Language:

Duration:

20 minutes

Workload:

45 hours

Proficiency:

Intermediate

Target:

Manager, Professionals, Students

SUMMARY

This lesson introduces participants to the principles and practices of demand forecasting, starting with traditional tools and progressing to advanced AI and analytics-driven approaches. It emphasizes the role of the data Analytics and AI in transforming forecasting from reactive to predictive decision making. Additionally, this lesson will introduce participants to the practical use of demand forecasting tools across industries, providing external examples from cross-industry and real-world environments. The lesson is designed to provide both conceptual understanding and practical insights, enabling learners to apply AI-driven forecasting in diverse business contexts.

About The Author

This course was developed within the EU-funded R3GROUP project, as part of Task 5.4: Social Impact Management, to raise the awareness about resilience strategies and technologies for reconfiguration in different manufacturing sectors. The authors bring combined expertise in engineering, innovation, and industrial transformation, ensuring a balanced approach between theoretical foundations and practical application.

The R3GROUP project has received funding from the European Union’s Horizon Europe programme under grant agreement No. 101091869. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union. Neither the European Union nor the granting authority can be held responsible for them.

Learning outcomes

By the end of this module, learners will be able to identify the importance of demand forecasting in modern business and supply chains and differentiate between traditional forecasting methods and advanced AI-driven approaches for demand forecasting.
By the end of this module, learners will be able to explain the advantages of AI, modeling and emerging technologies such as explainable AI, real-time demand sensing for improving forecasting.
By the end of this module, learners will be able to examine the real-world pilot cases and value how AI forecasting improves compliance, innovation adoption, and competitiveness.