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Demand Forecasting Analytics

oboloo Glossary

Demand Forecasting Analytics

Demand Forecasting Analytics is the systematic, data-driven study of past and present customer demands in order to better anticipate future demand. By leveraging various types of analytics—including descriptive analytics for historical analysis, predictive analytics for trend modelling, and prescriptive analytics for real-time decisions—businesses can more accurately forecast customer demand for their products and services. With a reliable demand forecasting system, companies can prepare for seasonal swings, identify opportunities for growth, and respond quickly to changes in the marketplace. They can also position themselves to capture customer loyalty by meeting customer needs with an agile supply chain. In short, Demand Forecasting Analytics is the key to staying ahead in today’s competitive market.

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