Millets Industry Dynamics: Leveraging Sales Projection and Customer Segmentation

Title

Millets Industry Dynamics: Leveraging Sales Projection and Customer Segmentation

Creator

Suhaas K.P.; Deepa B.G.; Shashank D.; Narender M.

Description

Millets delves into the dynamics of the millets industry, with a particular focus on sales projection and customer segmentation as strategic levers for growth. The research commences with an in-depth analysis of the millets market, encompassing production patterns, consumption trends, and emerging market opportunities. It explores the diverse range of millets varieties, their nutritional profiles, and the factors driving consumer preference. By understanding the market landscape, the study identifies key trends and challenges shaping the industry. A core component of this research is the development of a robust sales projection model. Employing advanced statistical and data-driven techniques, the model forecasts future sales based on historical data, market trends, and relevant economic indicators. The model incorporates factors such as consumer demographics, purchasing behavior, and competitive landscape to provide accurate and actionable insights. Customer segmentation is another critical aspect of the study. By applying clustering and profiling methodologies, the research identifies distinct customer segments based on factors such as age, income, dietary preferences, and purchasing habits. This segmentation enables a deeper understanding of customer needs and preferences, facilitating targeted marketing strategies and product development. The integration of sales projection and customer segmentation empowers businesses to make informed decisions, optimize resource allocation, and enhance overall market performance. By aligning product offerings and marketing efforts with customer segments, companies can achieve higher customer satisfaction, increased market share, and improved profitability. This research contributes to the growing body of knowledge on the millets industry by providing valuable insights into market dynamics, sales forecasting, and customer segmentation. The findings offer practical guidance for industry stakeholders, including farmers, processors, retailers, and policymakers, in navigating the evolving millets landscape. By leveraging the potential of sales projection and customer segmentation, the millets industry can unlock new opportunities and achieve sustainable growth. The Author(s), under exclusive licence to Springer Nature Singapore Pte Ltd. 2024.

Source

SN Computer Science, Vol-5, No. 8

Date

2024-01-01

Publisher

Springer

Subject

Customer Segmentation; Forecast; Millets; Sales Projection

Coverage

Suhaas K.P., Department of Information Science and Engineering, The National Institute of Engineering, Karnataka, Mysuru, India; Deepa B.G., Department of Computer Science, Christ University, Karnataka, Bangalore, India; Shashank D., Department of Information Science and Engineering, The National Institute of Engineering, Karnataka, Mysuru, India; Narender M., Department of Computer Science and Engineering, The National Institute of Engineering, Karnataka, Mysuru, India

Rights

Restricted Access

Relation

ISSN: 2662995X

Format

Online

Language

English

Type

Article

Identifier

https://doi.org/10.1007/s42979-024-03437-5

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85209720402&doi=10.1007%2fs42979-024-03437-5&partnerID=40&md5=4d869f8a54ea7169ce3a572c931ab43e