This beverage company was struggling to find ways to measure, prioritize and quickly respond to new challenges like changing consumer trends and fluctuating macroeconomic factors. They wanted more accurate and scientific sales forecasts to enable marketing and commercial teams to make better investment decisions.
Analytic Edge delivered a solution that incorporated macroeconomic, commercial and marketing data to build an ensemble forecast model using multiple ML- based algorithms.
- The AI-based ensemble improved forecast accuracy by quickly adapting to emerging trends with every monthly incremental data upload.
- Automation allowed the solution to be scaled across different brands, products, regions and channels.
- 98% Forecast Accuracy: Improvement in sales forecasts from +-25% variation to +-2% by implementing AI-based dynamic forecasting.
- Forecast Generation Time < 2 Days : Reduced forecast generation turnaround time to under 2 days after data availability.
- Evolving Forecasts:Allowed forecasts to incorporate changes in consumer behaviour and macroeconomic factors.
- Continuous Recalibration: Continuous recalibration of forecasts with every monthly incremental data upload improved forecast accuracy over time.