Hierarchical Forecasting

Aligning forecasts across various levels and functions within your organization can be both complex and time-consuming. Hierarchical forecasting streamlines this process by enabling you to create accurate forecasts at every level—whether it's weekly operational forecasts by product or long-term strategic forecasts of market trends. Once the forecasts are generated, hierarchical forecasting ensures alignment by assigning greater weight to higher-performing forecasts, resulting in cohesive forecasts optimized for accuracy

One source of truth

Hierarchical Forecasting breaks down the organizational silos and unifies the organization towards one source of truth, while improving the forecasting accuracy.

This interview with one of the contributors to the Hierarchical Forecasting research, Nikos Kourentzes, Professor at Skövde University discusses the concept and value of Hierarchical Forecasting.

Value achieved

By reconciling your forecast with Hierarchical Forecasting, you can:

Align Strategy with Operations
‍Hierarchical forecasting ensures that high-level business strategies are grounded in the detailed realities of your operations, improving decision-making at all levels.
Better Resource Allocation
By accurately forecasting demand at different levels, you can more effectively allocate resources across departments, regions, or product lines.
Consistency Across the Organization
‍Automatic reconciliation ensures that forecasts remain consistent across the organization, avoiding discrepancies between different levels of planning.

Key features in Indicio

User-Friendly Interface
Despite the technical sophistication of the models, our platform is designed for ease of use. With an intuitive interface, decision-makers can build and deploy complex forecasting models without needing deep technical expertise, making it accessible to everyone.
Extensive Model Library
‍Our platform offers a wide selection of forecasting models, from traditional statistical approaches to advanced machine learning and Bayesian models. Choose from ARIMA, Neural Networks, Error Correction, Lasso, LSTM and more. Whether you're forecasting time series data, mixed-frequency data, or incorporating external variables, we’ve got the right model for you.
Cutting-Edge Forecast Research
Stay ahead with forecasting models built on the latest research. Guided by our advisory board of international professors, we implement state-of-the-art models, optimize parameter selection, and refine processes from data cleaning to model pooling.
Fully Automated
Save time with fully automated model building. Our platform intelligently selects and fine-tunes the best models for your specific data and objectives. The automation ensures high performance without the need for extensive manual intervention, empowering decision-makers to generate accurate forecasts quickly.
Fast Deployment:
Time is critical in decision-making. With our platform, you can build, evaluate, and deploy your forecasting models faster than ever before. By automating the complex processes, we help you generate actionable insights in real time, keeping you ahead of the curve.

Hierarchical Forecasting

One source of truth

Value achieved

Key features in Indicio

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Explainable Forecasting

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