Forecasting and Predictive Analytics
Data science, machine learning, and AI enable companies to achieve reliable forecasts for a variety of business-related developments. This allows for efficient planning and control of business activities.
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Knowing the future today - with Forecasting and Predictive Analytics.
What is Forecasting and Predictive Analytics?
The recent past has been characterized by change and uncertainty. In such times, it is more important than ever for companies to identify future developments early in order to react accordingly. Machine learning and artificial intelligence are powerful technologies that enable companies to create reliable forecasts for a variety of business-related developments. The most widespread use case is predicting financial metrics such as revenue, profit, and cash flow. However, forecasting and predictive analytics offer significant optimization potential for other areas of the company, such as marketing, sales, or supply chain management.
Forecasting uses complex algorithms and statistical methods to identify specific patterns and relationships in historical data. Based on these patterns and insights, forecasts are then created for future developments. Consequently, forecasts can be created for any development as long as the corresponding historical data is available.
The development of forecasting and predictive analytics applications is a central competence of our data scientists, which we have already successfully used in many projects. With our support, you can use forecasting and predictive analytics to optimize your business processes and make better decisions.
Benefits of Forecasting and Predictive Analytics
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More precise forecasts
AI-based forecasts are often more accurate and reliable than manually created forecasts. This enables better decisions and planning.
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Forecasts in seconds
With data and artificial intelligence, reliable forecasts can be created for hundreds of products within seconds.
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Data-driven decisions
Using data and AI enables companies to make decisions based on data rather than gut feeling.
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Identification of opportunities and risks
Forecasts for future developments help companies identify opportunities and risks early on.
Use cases for
Forecasting
KPI Forecasting
Make decisions based on reliable forecasts of your KPIs such as sales, revenue, costs, liquidity, or EBIT.
Make decisions based on reliable forecasts of your KPIs such as sales, revenue, costs, liquidity, or EBIT.
Demand & Sales Forecasting
Optimize your marketing, sales, and product decisions based on reliable sales forecasts.
Optimize your marketing, sales, and product decisions based on reliable sales forecasts.
Customer Churn
Identify customers who are likely to churn in order to take appropriate countermeasures in a timely manner.
Identify customers who are likely to churn in order to take appropriate countermeasures in a timely manner.
Supply Chain Management
Optimize your ordering, inventory, and production management based on demand and supply forecasts.
Optimize your ordering, inventory, and production management based on demand and supply forecasts.
Predictive Maintenance
Prevent defects in machines and vehicles through predictive maintenance methods.
Prevent defects in machines and vehicles through predictive maintenance methods.
Fraud Detection
With machine learning and AI, you can automatically identify suspicious transactions and proactively take action.
With machine learning and AI, you can automatically identify suspicious transactions and proactively take action.
Up- & Cross-Selling
Focus your marketing activities on the customers where the intended impact is greatest.
Focus your marketing activities on the customers where the intended impact is greatest.
Time Series Forecasting
Development of prediction models for time-ordered data and sequence patterns.
Development of prediction models for time-ordered data and sequence patterns.
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Benefit from forecasting now!
As a leading consulting and development company for forecasting and predictive analytics, we help you harness the benefits of these technologies. Contact us today to find out how you can benefit.
