A machine learning system for forecasting demand implements an improved process using event streams for predicting the impact that events in the geographic area surrounding an establishment have on demand forecasts for the establishment. A range of distances from the establishment can be determined and divided up into different distances. Event streams can be generated from the events by grouping the events into combinations of event attributes, such as event category and the distance of the event from the establishment. The event streams can be provided as inputs along with demand data for computing demand forecasts that account for increased or decreased traffic patterns in the geographic area surrounding the event. The event streams can be filtered based on the magnitude of the impact the events have on the demand for the products and/or services of the establishment before, during and after the event takes place.