What is demand forecasting?
Demand forecasting is the activity of using historic data to forecast how much of your product or service consumers will purchase in the future. Forward-thinking decision makers now require the use of econometric modeling and other applied mathematical processes in order to more accurately anticipate and plan for potential scenarios. Forecasting demand is essential for budgeting and planning as well as making better, faster, more informed decisions, including decisions about pricing, capacity requirements, and whether to enter new markets.
Why do I need demand forecasting?
Practically every decision an organization makes requires an estimate of future demand. The quality of those decisions will depend on the quality of the estimate. A rigorous data-driven forecasting methodology will provide decision-makers with a more accurate assessment of future demand and thereby help them make better budgeting, planning, pricing and other decisions.
Why choose Competitive Analytics for my demand forecasting?
Simply, the accuracy of our demand forecasting is unparalleled. We have been successfully delivering accurate forecasts to support the strategic and tactical planning of our clients for over fourteen years. Our track-record is due to our exceptionally robust and accurate analytical approach, which gives our clients confidence that they are making the right decisions.
Still not sure if you need demand forecasting?
View Demand Forecasting Case Studies to learn how your company can benefit from demand forecasting.
XYZ Corporation Case Study 17
Strategic Investment Decision Support, Product Segmentation, Investment Strategy, Competitive Performance Benchmarking, Redevelopment Analytics, Price Optimization