Google Launches Forecasting Service for Retailers

The Vertex AI Forecast solution for demand analysis and inventory and logistics management works using artificial intelligence technologies.

Google has introduced a new product Vertex AI Forecast, the main purpose of which is to forecast the demand for a particular product or service. The solution is part of the Vertex AI platform that Google launched in 2021. Its main purpose is the use of artificial intelligence technologies in solving business problems.

Vertex AI Forecast can process datasets of up to 100 million rows from BigQuery or CSV files, representing thousands of product lines with hundreds of demand parameters over long periods of time. Users will be able to build forecasts at the level of entire networks or individual stores, taking into account the budget.

Entrepreneurs using Vertex AI Forecast will have tools to predict demand based on a wide range of data, changing supply chains and fluctuating markets. Thus, the business gets the opportunity to more effectively manage its own inventory and the way to reduce costs.