Using a combination of statistical models and machine learning, forecast the impact of demand drivers - both internal and external - to improve your forecast accuracy.
By blending demand sensing and forecasting, get visibility into everything from monthly to 18-month planning.
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What level should you forecast at? At the SKU, product group or market level?
Why not forecast both the demand for a particular product and a market segment?
By using hierarchical forecasting, demand planners can incorporate data and information from multiple levels in the hierarchy to create more accurate, reliable and comprehensive demand forecasts.
Many demand planners use only univariate models when forecasting. However, you risk missing the opportunity to discover and incorporate leading indicators into your forecast.
By taking macroeconomic factors into consideration, you get a stronger sense of which outside variables have the most significant impact on demand in each of your markets.
How can you identify the key demand drivers based on your internal data?
By using multivariate models in your forecasting, you can apply a data-driven approach to capture and incorporate the market dynamics into your forecasts.
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Many demand planning teams rely on sales input to gain insight from the market environment. But what happens when that information does not take demand signals into consideration?
The purpose of adding external indicators is to broaden the forecasting horizon anticipated by demand sensing.
By playing out different scenarios, you get a forecast that responds to real-world events.
You've probably noticed that just aggregating your product-group projections does not produce the same results as the overall forecast, resulting in total anticipated sales that do not correspond to your product-level data.
Indicio enables the reconciliation of every level of your forecast hierarchy using hierarchical forecasting. This ensures all business decisions are aligned and are based on a shared view of future demand.
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Experience the ease and accuracy of Indicio’s automated forecasting platform firsthand. Click to start a virtual demo today and discover how our cutting-edge tools can streamline your decision-making process.
We are an automated forecasting software that bridges the latest statistical models from academia with the specific leading indicators in an organization's market environment. Helping your organization achieve the highest forecast accuracy.
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