Case study

How an aviation manufacturer increased their market forecast accuracy by 40%

Their challenges

Adapting to market trends

The aviation manufacturer's primary concern was to ensure that they could quickly adapt and optimize production capacity to meet market trend shifts. To do so, they required accurate forecasts of their sales volumes.

Robust forecasting methods

Their current method of forecasting, not unlike others in the industry, is built primarily in Excel. The absence of statistical methods when identifying leading indicators resulted in irrelevant indicators being selected, which translated to poor forecast accuracy.

Key results

Detect market shifts

With Indicio, they were able to detect trend shifts on the market months earlier than before. This gave the manufacturer enough time to adjust production before a trend shift, resulting in significant savings when the market went down and the ability to meet demand when the market went up.

Aligned view

Successfully established a structured forecasting process that aligned everyone from management to production.

Improved forecast accuracy

By implementing best practices through all stages of the forecast process, the manufacturer achieved a double-digit MAPE forecast accuracy improvement.

The dependence on Excel for forecasting led to low accuracy, inefficient use of resources, and a lack of confidence in their forecast results.

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Resources

How can predicting market shifts drive dynamic adaptation in your business?

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Still using Excel to forecast? Here are its limitations and how you can overcome them.

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Are you on top of capturing changes in trends and patterns over time when forecasting?

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