Abstract: Systems and methods are disclosed for forecasting future sales of a prime product. The system includes at least one processor configured with instructions to collect historical sales data of the prime product, collect historical telematics data from one or more machines that were sold as the prime product, and collect historical econometric data relevant to the prime product. The at least one processor also generates a group of candidate predictors from the historical telematics data and the historical econometric data, select predictors from the group of candidate predictors, and establish a forecasting model representing a relationship between the selected predictors and the historical sales data of the prime product. The at least one processor forecasts future sales of the prime product by using the established forecasting model.