Forecasting Modelling
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Forecasting is a technique used in businesses as a planning tool. It uses historic data to set up future informed estimates that can predict the direction of future trends and seasonality in the data. Most businesses use predictive forecasting in budget allocation management, future sales projections or anticipated expenses planning etc. When you hire us, we will use your data to build predictive machine learning models that will predict your business target and will use other applications to design your visual future forecasts for the business in an interactive dashboard. We work with you to achieve your desired targets.
01 BUSINESS PROBLEM
When a business is running well the main challenge is to know how your business is performing in relation to its products and services and the expectation of any business is to see growth increase. Any financial events e.g., sales expectations, demand variations, operations costs etc that eventually maximise or reduce business investor shares is worrisome to the business. Building a predictive forecasting model that will be able to predict future demands, sales, costs etc and shows tends and seasonality in the data is your business challenge. This is where forecasting comes in. Therefore, we will work together to help you achieve these challenges.
02 BUSINESS SOLUTION
Most businesses need to predict forecasts of their sales and demands of goods and services to see economic worthy of the business. Some strategies and methodologies utilised may include the use historic data to train our forecasting models, setting up of business metrics, building of interactive dashboards etc. We use forecasting predictive modelling as an end-to-end customer business management solution to help your business stay on top of your competitors. Our forecasting predictive models will identify accuracy and volatility of the forecasts over a certain period, trends and seasonality and recommend action be taken.
03 BUSINESS DELIVERABLES
We generate and provide you with a predictive forecasting business model (pseudo code), the life cycle project flow pipeline, personalised business predictive models to predict forecasts and can be deployed at your own systems and dashboard reporting of forecasts using your desired metrics for example, accuracy, performance etc. In addition, we do provide customer training and support during the integration and set-up processes and this can be on your systems or customer premises.
04 BUSINESS OUTCOME
The prediction of forecasting business outcomes will happen as forecasts metrics and these metrics may include e.g., sales increase, demand increase, performance, keeping your clients loyal and engaged with your products and services which in turn will increase business revenue. Most businesses use all sorts of business tools to accurately forecast future business outcomes. The future outcomes can be affected by external factors that positively or negatively affect the business and sensitive to the business model. We will work with you to understand your needs and metrics needed for your desired forecasting outcome, so that a forecasting planning report is place for your team.
05 CASE STUDY:
Customer Sales Volume Forecasting
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Learn from historic data to accurately predict future trends and outcomes that drives efficiency and productivity
