Footwear sales forecasting is a critical task for supporting product managerial decisions, such as the management of footwear stocks and production levels. In this paper, we explore a recently proposed Sequence to Sequence (Seq2Seq) Long Short-Term Memory (LSTM) deep learning architecture for multi-step ahead footwear sales Time Series Forecasting (TSF). The analyzed Seq2Seq LSTM neural network is compared with two popular TSF methods, namely ARIMA and Prophet. Using real-world data from a Portuguese footwear company, several computational experiments were held. Focusing on daily sales, we analyze data recently collected during a 3-year period (2019–2021) and related with seven types of products (e.g., sandals). The evaluation assumed a robust and realistic rolling window scheme that considers 28 training and testing iterations, each related with one week of multi-step ahead predictions. Overall, competitive predictions were obtained by the proposed LSTM model, resulting in a weekly Normalized Mean Absolute Error (NMAE) that ranges from 5% to 11%.
CITATION STYLE
Santos, L., Matos, L. M., Ferreira, L., Alves, P., Viana, M., Pilastri, A., & Cortez, P. (2022). A Sequence to Sequence Long Short-Term Memory Network for Footwear Sales Forecasting. In Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Vol. 13756 LNCS, pp. 465–473). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-031-21753-1_45
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