The goal for consumer products companies is growth, but IT and supply chain strategies are focused on reducing costs and improving efficiency. Over the last ten years, this mismatch in spending versus priorities has never been greater.
Jason Dols, Senior Manager Demand Planning at PepsiCo, believes that organizations can improve the performance of statistical forecasting by developing a process to drive continuous improvement.
Convio, a marketing agency which focuses on the nonprofit sector, has acquired analytics and predictive modeling firm StrategicOne for around $5m in cash and an additional performance-related figure of $1m payable over three years.
One might expect that over time economic forecasters should converge in methodologies, and thus in forecasts, as the competitive market for forecasters creates a natural selection that weeds out unsuccessful strategies and pushes forecasters towards the most successful strategy.
Sales forecasting is key to cashflow control, but it can be difficult for new businesses, because they don't have any past sales figures to go on. Palo Alto Software's Alan Gleeson provides the answers in his beginner's guide to sales forecasting.
Forecasters whose sales analytics automation allows them to pull a reliable forecast in under a half-hour consistently outperform slow forecasters in several key performance metrics.
Forecasting sales and cash flow is never a simple task, and the shaky economic recovery is making the process downright perplexing, says Inc. They've compiled the 7 best tips for forecasting this year.
Bear or bull, boom or bust, organic multigrain wholemeal sourdough or white bread, there's something for everyone in 2011 with various prognosticators, commentators and astrologers calling any number of numbers for those playing forecasting bingo.
Automated forecasting software and managers who are involved in day-to-day activities each have their strengths and weaknesses. A combination of the methods is likely to ensure more accurate forecasts.
The International Institute of Forecasters (IIF), a non-profit organization founded in 1981, is dedicated to developing and furthering the generation, distribution, and use of knowledge on forecasting. It has introduced corporate memberships to its application options.