Predicting Industry Demands with the Help of Demand Forecasting Methods – An Analytics Case Study by Quantzig

Quantzig, a pure-play analytics solutions provider, has announced the completion of their latest demand forecasting study for a farm equipment company. The client is a well-known Fortune 500 farm equipment manufacturing company. Based in California, the company works on developing new equipment with the help of reliable data. The primary aim of the company was to accommodate changes in equipment design and development by analyzing and predicting fluctuating demands. Since inaccurate demand forecasting methods were leading to recurring cycles of overproduction and underproduction, the client was facing hardships in meeting their organizational objectives. Also, this was impacting their position as a global market leader, leading to millions in lost revenue.

Demand forecasting forms the basis of inventory management, capacity planning, and market expansion and helps in analyzing the demand for a particular product or a service. There is no predefined format or template for supply and demand forecasting since it is mostly based on the analysis of market dynamics and consumers purchasing behavior. Survey-based methods, statistical methods, and opinion-polls are few of the most popular demand forecasting methods used by companies. Book a Solution Demo to see how Quantzigs analytics dashboards for demand forecasting can help visualize data in real time.

To help the client, we outlined a demand and supply process by leveraging supply chain analytics and advanced analytic techniques. In addition, we combined the clients clients internal data with relevant external market data to estimate and outline an effective demand forecasting process, says an industry expert from Quantzig.

To know more about the scope of our demand forecasting engagement and pricing plans, request a proposal.

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Quantzig’s demand forecasting methods helped the client to employ machine learning and supply chain analytics in their processes. Moreover, the use of demand forecasting methods helped the company to gain a better position by developing effective products and meeting customer demands through the help of strategic plans. We also helped the client in outlining a supply and demand forecasting process by leveraging supply chain analytics and advanced analytic techniques.

The demand forecasting engagement provided benefits that helped the client to:

  • Outperform the accuracy of the company’s previous approach by over 90%.
  • Analyze problems in their demand forecasting methods.
  • To gain relevant insights and understand the benefits of our demand forecasting solution, Get in touch.

This demand forecasting engagement offered predictive insights on:

  • Delivering high-accuracy supply and demand predictions over time.
  • Predicting customer needs and developing effective products.
  • To know more about Quantzigs proprietary analytics tools and BI bdashboards, Request more information.

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal

Quantzig
Anirban Choudhury
Marketing Manager
US:
+1 630 538 7144
UK: +44 208 629 1455
https://www.quantzig.com/contact-us

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