Oracle debuts demand forecasting service for retailers

Oracle's Retail Demand Forecasting Cloud Service aims to help retailers boost inventory management by providing a single view of demand through the product lifestyle.

The technology features built-in AI and dashboards to help retailers prevent overstocking and boost customer satisfaction, according to a press release.

The offering is part of the Oracle's Platform for Modern Retail, built on a cloud-native platform and aligned to the Oracle Retail Planning and Optimization portfolio.

"As customer trends continue to evolve faster than ever before, it's imperative retailers move quickly to optimize inventory and demand. Too little inventory and customers are dissatisfied. Too much and retailers have a bottom line problem that leads to unprofitable discounting," said Jeff Warren, vice president, Oracle Retail, in the release.