Forecasting
With consumer demand becoming increasingly difficult to gauge and product supply chains beginning to shift, it has become imperative to accurately prepare future resource allocations and gain knowledge on how to make present day adjustment to best affect future outcomes.
Better Plan for the Future
Through customer-tailored machine learning modeling coupled with acquired business knowledge, businesses will gain reliable forecasts that would provide a foundation to better plan for the future. Along with the forecasts, the ML models would allow for scenario building to understand how current business levers can affect future outcomes.
Benefits
Optimized Planning
Reliable knowledge of future customer demand allows for the optimal allocation of business investments.
Scenario Insights
Identify and isolate which business levers are driving the greatest changes in future outcomes.
Increased Efficiency
Reduce wasted spend through a scientific understanding of the optimal areas to invest in.
How it Works
Requirements: At least 2-3 years of product level transaction data that would includes date, location, quantity purchased and sales amount.
Knowledge Transfer: A close collaboration between the business owner and the data scientist to identify areas and trends unique to the business that aid in the development of the model.
Modeling: Statistical and/or machine learning models would be utilized to predict the outcomes of future events or conditions in question.
Scenario Building: Manipulation of current data and business levers to gain insights on how it will affect future outcomes.
Let’s better plan for the future.
Contact us today for a free consultation.