RESOURCES / SOLUTION SPOTLIGHT
PROPHETTM : STATE OF THE ART FORECASTING PLATFORM
Forecasting is a tough business. Consider the following facts:
There are several reasons why businesses find accurate forecasting a challenge:
LatentView’s Prophet ™ helps your organization become more demand-driven, and respond rapidly and flexibly to changing market environment. Prophet is a statistical forecasting solution that uses state-of-the-art predictive modeling techniques to produce high quality forecasts with minimal human intervention. Prophet’s collaboration and workflow capabilities enable you to create robust processes for creating, approving and sharing forecasts within and across your business units.
Prophet is built on a flexible multi-dimensional data architecture that is based on industry-standard consumer goods data model. Prophet enables you to understand the full impact of your demand shaping activities – including price changes, promotions, advertising, product bundling, sales incentives, etc. With its ability to perform causal analysis, Prophet can help you unravel cannibalization & halo effects from your promotions, and incorporate the impact of weather, seasonality, econometric and lifestyle factors in your forecasting.
Features
Benefits
PROPHETTM : STATE OF THE ART FORECASTING PLATFORM
Forecasting is a tough business. Consider the following facts:
75% of companies revised their projected earnings in 2009
There is only a one in three chance that a new product will meet its sales and profitability goals
Out-of-stock represents $20B lost revenues for US Consumer Goods firms in 2009
There are several reasons why businesses find accurate forecasting a challenge:
No consistent process or methodology to create, manage, share and act on forecasts
No consistent way to reconcile forecast across business units and hierarchies
No consistent way to standardize and capture data used for forecasting within and across business units
Lack of understanding of the full impact of causal factors and demand-shaping activities on sales and profitability
LatentView’s Prophet ™ helps your organization become more demand-driven, and respond rapidly and flexibly to changing market environment. Prophet is a statistical forecasting solution that uses state-of-the-art predictive modeling techniques to produce high quality forecasts with minimal human intervention. Prophet’s collaboration and workflow capabilities enable you to create robust processes for creating, approving and sharing forecasts within and across your business units.
Prophet is built on a flexible multi-dimensional data architecture that is based on industry-standard consumer goods data model. Prophet enables you to understand the full impact of your demand shaping activities – including price changes, promotions, advertising, product bundling, sales incentives, etc. With its ability to perform causal analysis, Prophet can help you unravel cannibalization & halo effects from your promotions, and incorporate the impact of weather, seasonality, econometric and lifestyle factors in your forecasting.
Features
A variety of statistical models (including ensemble of models) with fully automated forecasting needing little manual intervention.
Collaboration and workflow capabilities to jointly create, approve and share forecasts.
Forecasting at multiple levels, and ability to roll-up and roll-down forecasts to the required level.
Understand the impact of causal and demand-shaping activities such as advertising & promotions, the weather, econometric and lifestyle factors.
Benefits
Adopt a profitable and customer-oriented approach to predicting and meeting product demand
Reduce losses due to stock-outs and mark-downs on excess inventory
Minimize uncertainty in your supply chain, reduce safety stock requirements, improve cutomer satisfaction, and increase profitability
