Demand Modeling

Demand modeling is a process used to predict how much of a product or service people will want in the future. It considers factors like prices, customer preferences, market trends, and economic conditions to estimate demand. Businesses use these models to make better decisions about production, inventory, and marketing. By understanding how demand might change under different scenarios, companies can optimize their resources and meet customer needs more effectively. Essentially, demand modeling provides a structured way to forecast future sales and adapt strategies accordingly.