Are you interested in advancing your organisation using data analytics? Do you want to get your master data up-to-speed and improve your forecast accuracy? Or would you like to see the integration of your planning system and your self-built tools? Will the implementation of new planning tools suffice or are you looking for a custom-made solution to support your operational decisions?
EyeOn’s data science team makes data-driven analytics work for your supply chain. Data is everywhere, but how can you extract value from it to directly support the decision-making process? Production planning can be optimized through providing insights, generating forecasts and/or the design and implementation of new tools. Your organization’s data can be transformed, analysed and visualized to create a better understanding of your business value. Our human thought processes lean naturally on cognitive bias, more advanced analytics are required to generate valuable insights from the data.
In today’s dynamic and uncertain business environment, your supply chain planning challenges continue to grow. Your portfolio is more complex than ever, consumer behaviour is volatile, and you face growing pressure on price and margins. You need high-quality planning backed with reliable statistical forecasting to understand and act decisively in this intricate and erratic market.
What is statistical forecasting?
A statistical baseline forecast is based on historical sales data and often employs trend models. These models allow companies to focus on the enrichment of elements that really add value. Each demand forecasting unit in your portfolio is segmented and a statistical model is created to suit all mature products. The segmentation of products allows you to focus on and enrich the forecast of important products. It lets statistics do the work for you, while enhancing the forecast efficiency. These advanced models boost forecasting accuracy.
Quick but deep insight into product segmentation, forecast accuracy and forecasting models
Identify potential improvements create action plan for implementation
Make it a reality! Improve your forecasting models via our planning services or suitable customer APS
Monitor & refresh
Monitor improvements and value obtained
As well as statistical baseline forecasting, EyeOn offers advanced forecasting techniques:
Use promotion drivers to predict sales in promo-intensive markets.
With external information like weather, social, finance.
Better short term (days, hours) forecasting.
Tailored forecasting models
We can deliver any forecast model needed, applying advanced techniques like AI and ML.
Insights from years of experience
We continuously learn and always apply past experience to new projects.
We develop standard components for re-use. Every project has precisely the right amount of customization
Added Value Forecasting
It is only sensible to want to quantify the added value of an improved forecast. One forecast can be compared to another to measure improvements in accuracy. Statistical forecasts can be treated likewise, and they can be measured against the enriched forecast generated by your organisation. Other options include comparing the statistical forecast with the naive forecast, so that the observation of next month will be equal to this month’s.