The german Modellansatz podcast curated by Gudrun Thäter and Sebastian Ritterbusch, supported by the Karlsruhe Institute for Technology (KIT), conveys the importance of mathematics and mathematical modeling in our everyday life. Starting from the water tap, automatic velocity control systems on highways to your mobile phone, mathematics is almost everywhere.

In issue 25 of the podcast, I talk about predictive analytics, especially the challenges of making sales forecasts for retailers. With the help of these forecasts optimal order decisions can be made with respect to the availability of goods and write-offs.


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