I have a dataset of sales of a company for different products throughout 3 years. I have to forecast the sales for each of these products for next year. A sample of the dataset is:
Here I have to forecast sales for year 4 from the sales record of each product over 3 years.
N.A is present where the particular product was not sold in that year.
1.Which algorithm should I use to forecast the sales for year 4? I have heard about ARIMA and xgboost being used for time series data. Can you please help me with that?
2.Now I am being given a new product which was not sold before. I am being asked to predict its sales for year 4, using the data for sales of other products:
What should be my approach for this problem?
Please help me out here. Thank you for your time and support in advance. I am sorry if my documentation or question is poor.