If a business wishes to optimize inventory, production and supply, it must have a comprehensive demand planning process; one that can forecast for customer segment growth, seasonality, planned product discounting or sales, bundling of products, etc. In order to predict and forecast and assure product or service availability, the business must also look at the dependability of suppliers, shipping and the purchasing of parts that make up the products. It must also plan for appropriate resources and training and, where necessary, plan for new products.
Predictive analytics uses data integrated from appropriate data sources, and augmented analytics allows the business to anticipate production demands, plan for new locations and markets and predict targeted customer buying behavior and changes in product demand across multiple market segments. Assisted predictive modeling is easy enough for every business user and will allow team members to plan at the department, divisional, unit and company level for manufacturing, logistics, travel and hospitality, and product and service sales and marketing.
Businesses invest significant funding in inventory and warehousing and shipping and every step along the supply chain. Where demand can be optimized, the business will alleviate the issue of inventory shortages or overages and will optimize production and distribution to improve the bottom line and ensure that customers are satisfied.
Use Augmented Analytics and Assisted Predictive Modeling to accurately anticipate demand and optimize resources.
Learn More: Demand Planning
We invite you to explore other use cases and discover how predictive analytics, and assisted predictive modeling can help your business to achieve its goals.
- Customer Churn
- Fraud Mitigation
- Quality Control
- Product and Service Cross-Sell and Upsell
- Maintenance Management
- Customer Targeting
- Human Resource Attrition
- Loan Approval
- Marketing Optimization
- Predictive Analytics Using External Data
- Online Target Marketing
- Students’ Academic Performance
- Crime Type Prediction
Learn more about Augmented Analytics, its uses, techniques and applications.
Contact Us today to explore the benefits of Augmented Analytics and Assisted Predictive Modeling for demand planning.
Original Post: Predictive Analytics Use Case: Demand Planning!