Innovating Beverage Demand Forecasting: My Capstone Journey with Swire Coca-Cola
By Sai Eshwar Tadepalli
In the Spring 2024, as part of our Master of Science in Business Analytics program at the University of Utah, I embarked on a journey that would not only challenge my analytical skills but also deepen my understanding of the beverage industry’s dynamics. Our team was tasked with a Capstone project from Swire Coca-Cola, aimed at mastering the art of forecasting demand for innovative beverage products.
The Challenge
Swire Coca-Cola, known for its dynamic product range across 13 states in the American West, presented us with a critical challenge: forecasting the demand for newly introduced beverages to optimize production and inventory management.
The stakes were high, as accurate forecasts could significantly reduce costs and enhance customer satisfaction by preventing overproduction and stock-outs.
Our Approach
The project centered around several innovative products, including Diet Smash Plum, Sparkling Jacceptabletlester Avocado, and Diet Venomous Blast Energy, each with unique market predictions and seasonal sales peaks. Leveraging historical sales data and advanced analytical techniques such as ARIMA, Exponential Smoothing, and Facebook Prophet, we aimed to predict weekly demand for these products.
Data Driven Insights
Using the Market Demand Dataset, along with zip code mapping and demographic insights, our analysis went deep into the granularity of sales data, dissecting trends at the item level across different regions. For instance, the forecast for Diet Venomous Blast Energy Drink suggested its best sales would occur from November to February, a crucial insight for strategic product launches.
Technical Implementation
The analytical rigor was matched by technical prowess. I developed a website using Docker, Python, Flask, HTML, CSS, and JavaScript, which not only impressed the Swire team but also provided a platform for interactive data visualization and further analysis.
Website link is: https://swirewebsite-kxgpyieata-wm.a.run.app/
Tools like Google BigQuery and Tableau facilitated our exploratory data analysis, providing a clear visualization of trends and forecasts.
Results and Recognition
The culmination of our project was a presentation to the Swire Coca-Cola team, where we showcased our comprehensive demand forecasting models and the corresponding web interface that detailed our findings and recommendations.
The project was not only a success in terms of meeting the objectives but also in contributing to Swire’s strategic planning for their innovative products.
Reflections on My Capstone Experience
This Capstone project was more than an academic requirement; it was a transformative experience that bridged theoretical knowledge with real-world application. It tested our abilities to synthesize large datasets, apply complex analytical models, and deliver actionable insights in a business context.
Looking Forward
As we wrapped up our presentation in April 2024, I reflected on the skills and insights gained. The project underscored the importance of data-driven decision-making in business strategy and innovation management. Going forward, I am excited to apply these skills to further challenges, confident in the knowledge and experience gained from this Capstone project.
Github Link: https://github.com/saieshwartadepalli06/Swire-Innovators
Engage with Us
I invite you to explore our project further and share your thoughts. Whether you are a student pondering a Capstone challenge or a professional interested in the intersection of analytics and industry, let’s connect and explore the possibilities together.
References
Website link is: https://swirewebsite-kxgpyieata-wm.a.run.app/
Github Link: https://github.com/saieshwartadepalli06/Swire-Innovators