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Does AZInsight calculate sales estimates for variations of a product?

Yes, as of version 2.9.7 AZinsight the sales estimations engine now accounts for more data points other than the sales rank. What this allows AZInsight to do is to give sales estimations for a child ASIN when the data is available. The engine does this by accounting for historical and current data to create an estimation. Below is a video where we show an ASIN where this is the case. 

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