Walmart Sparkathon 2023 Presentation Notes

Introduction

• Presenter: Vikas Rana
• Academic Background: Final year B.Tech in Computer Science Engineering
• Topic: Problem statement for the Walmart Sparkathon 2023 focusing on data.

Problem Statement

• Core Issue: Ensuring timely availability of products.
• Context:
  • Trend-driven market affecting customer emotions and experiences.
  • Increasing online business challenges due to social media trends.
• Customer Behavior:
  • Shift toward purchasing trendy items leading to unexpected influx of customers.
  • Products often go out of stock quickly, preventing customers from buying desired items.

Proposed Solution

• Strategy: Comprehensive Trend-Driven Demand Management
• Components of the Solution:
  • Predict upcoming trends and demands using data analytics.
  • Enable efficient inventory management to regulate demand surges.
  • Implement a dynamic pricing approach to balance demand and supply.

Expected Outcomes

• Faster demand forecasting and trend analysis.
• Real-time inventory management.
• Reduced stock-outs and optimized inventory levels.

Tech Stack for Implementation

• Technologies Used:
  • Django (Python)
  • React
  • MongoDB
• Implementation Strategy:
  • Leverage machine learning for trend forecasting using social media data.
  • Develop predictive models to guide real-time inventory management.
  • Introduce dynamic pricing mechanisms to regulate purchasing surges.

Conclusion

• The solution addresses the impact of trend-driven markets on product availability.
• Key Elements:
  • Predictive analytics and real-time inventory management.
  • Utilize data insights for accurate stock levels.
  • Enhance front-end engagement and customer communication.
  • Continuous feedback loops for adaptability.
• Promise of the Solution:
  • Prevent stock-outs, improve customer experience, and optimize business market standings.

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Thank you for your attention!