Accurate sales forecasting is an indispensable business tool. It can help companies prepare for uncertain times and make the most of emerging opportunities. But accuracy is just the start. The right approach should also provide guidance on which factors impact forecasts the most, and by how much. It should be adaptable to sudden changes in the market, like financial shocks or health scares. Ultimately, it needs to support the integrated business planning process that companies use to make real-life decisions every day.
Analytic Edge’s Integrated Business Planning solution meets all these objectives by starting with state-of-the-art forecasting models, built around the key drivers of the business. Reinforcement Learning algorithms are then be applied to continuously recalibrate the forecast based on emerging trends. The importance of different drivers like pricing, competition or macro-economic factors is updated as trends emerge. This forecast feeds ‘always on’ planning and simulation tools, allowing users to build new business plans, update projections, or track progress versus the plan. They can also understand what’s behind any shortfalls or sudden gains through integrated variance analysis tools. This integrated approach helps businesses get more out of their forecasts by allowing them to build and modify their plans in near real-time, so they can respond effectively to new challenges and opportunities.
Key Features & Benefits
- Code-free Model Development & Customization: Businesses get a customized forecast model, built around their decision-making needs. They have the option of developing models themselves, with our code-free modelling tools plus training and support from Analytic Edge. Proven ML techniques and forecasting best practices are built into the process.
- Dynamic Forecasting Integration: Forecasts can be calibrated with each new wave of data using the Dynamic Forecasting system. Embedded AI algorithms push prediction error out of the forecast, while also recalibrating the forecast drivers to provide an accurate, up-to-date view of your growth drivers.
- Business Planning & Simulation: Demand Driver’s Business Planning Module allows users to building their own business plans and projections using the latest, fully-calibrated forecast modelling results. Plans can be saved and updated as the strategy is adapted to the forecast.
- Cloud-Ready Design: The entire solution can be implemented on the client’s cloud, for security, confidentiality, and easy access to your data assets and computing resources.
- Full Service, DIY or Partner Services Models: Demand Drivers is offered as a full-service solution with complete transparency into the modeling process, for companies that prefer to outsource the process. It can also be offered on a do-it-yourself model with adequate training and back-end support, for companies that would like to run the process in-house. Analytic Edge can also license the system through your preferred consulting partner and provide them with implementation help, training, and support where needed.