A Comprehensive Study of Walmart Sales Predictions Using Time Series Analysis

dc.contributor.authorC., Cyril Neba
dc.contributor.authorF., Gerard Shu
dc.contributor.authorNsuh, Gillian
dc.contributor.authorA., Philip Amouda
dc.contributor.authorF., Adrian Neba
dc.contributor.authorWebnda, F.
dc.contributor.authorIkpe, Victory
dc.contributor.authorOrelaja, Adeyinka
dc.contributor.authorSylla, Nabintou Anissia
dc.date.accessioned2024-09-11T17:46:26Z
dc.date.available2024-09-11T17:46:26Z
dc.date.issued2024-06
dc.description.abstractThis article presents a comprehensive study of sales predictions using time series analysis, focusing on a case study of Walmart sales data. The aim of this study is to evaluate the effectiveness of various time series forecasting techniques in predicting weekly sales data for Walmart stores. Leveraging a dataset from Kaggle comprising weekly sales data from various Walmart stores around the United States, this study explores the effectiveness of time series analysis in forecasting future sales trends. Various time series analysis techniques, including Auto Regressive Integrated Moving Average (ARIMA), Seasonal Auto Regressive Integrated Moving Average (SARIMA), Prophet, Exponential Smoothing, and Gaussian Processes, are applied to model and forecast Walmart sales data. By comparing the performance of these models, the study seeks to identify the most accurate and reliable methods for forecasting retail sales, thereby providing valuable insights for improving sales predictions in the retail sector. The study includes an extensive exploratory data analysis (EDA) phase to preprocess the data, detect outliers, and visualize sales trends over time. Additionally, the article discusses the partitioning of data into training and testing sets for model evaluation. Performance metrics such as Root Mean Squared Error (RMSE) and Mean Absolute Error (MAE) are utilized to compare the accuracy of different time series models. The results indicate that Gaussian Processes outperform other models in terms of accuracy, with an RMSE of 34,116.09 and an MAE of 25,495.72, significantly lower than the other models evaluated. For comparison, ARIMA and SARIMA models both yielded an RMSE of 555,502.2 and an MAE of 462,767.3, while the Prophet model showed an RMSE of 567,509.2 and an MAE of 474,990.8. Exponential Smoothing also performed well with an RMSE of 555,081.7 and an MAE of 464,110.5. These findings suggest the potential of Gaussian Processes for accurate sales forecasting. However, the study also highlights the strengths and weaknesses of each forecasting methodology, emphasizing the need for further research to refine existing techniques and explore novel modeling approaches. Overall, this study contributes to the understanding of time series analysis in retail sales forecasting and provides insights for improving future forecasting endeavors.
dc.identifier.citationNeba, Cyril, F. Gerard Shu, Gillian Nsuh, A. Philip Amouda, Adrian Neba, F. Webnda, Victory Ikpe, Adeyinka Orelaja, and Nabintou Anissia Sylla. "A Comprehensive Study of Walmart Sales Predictions Using Time Series Analysis." Asian Research Journal of Mathematics 20, no. 7 (2024): 9-30.
dc.identifier.doi10.9734/arjom/2024/v20i7809
dc.identifier.issn2456-477X
dc.identifier.urihttps://scholarworks.montana.edu/handle/1/18814
dc.language.isoen_US
dc.publisherSciencedomain International
dc.rightsCopyright Sciencedomain International 2024
dc.rights.urihttps://www.peerreviewcentral.com/page/faqs-help
dc.subjectsales prediction
dc.subjecttime series analysis
dc.subjectwalmart
dc.subjectexponential smoothing
dc.subjectGaussian processes
dc.subjectSOCIAL SCIENCES::Statistics, computer and systems science::Informatics, computer and systems science
dc.subjectmodel evaluation
dc.titleA Comprehensive Study of Walmart Sales Predictions Using Time Series Analysis
dc.typeArticle
mus.citation.extentfirstpage1
mus.citation.extentlastpage22
mus.citation.issue7
mus.citation.journaltitleAsian Research Journal of Mathematics
mus.citation.volume20
mus.relation.collegeCollege of Engineering
mus.relation.departmentComputer Science
mus.relation.universityMontana State University - Bozeman

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