Modelling a Forecasting Platform for Small and Medium Enterprises in Kenya

Abstract

Small and medium enterprises’ contribution to Kenya’s GDP growth is vital. The use of technology to predict business operations and performance is the next frontier in ensuring business sustainability, job security and a generally good business environment. The study aimed at dealing with this information gap and equipping SME owners and managers with the right information to make informed decisions based on their data and experiences. Predicting business operations is a critical task for small and medium enterprises. With increased unpredictability in the business environment, small enterprises find themselves in the receiving end simply because they do not have the tools in decision making like their counterparts who have well established business decision-making tools. SMEs can now tap into the power of data to support decision-making. Data on sales and purchases collected by SMEs is readily available and SME owners can now benefit

from the use of predictive analytics to forecast sales and purchases. The data allows SME owners to have added confidence in decision making to help propel their businesses to success.