Demand forecasting companies are professional services that specialize in accurately predicting future customer demand. Through the combination of advanced analytics, data modeling and best practices in market research, these companies help businesses plan effectively around expected peaks and troughs in demand. For example, they may assess historical sales data, competitor activity and external factors such as weather or economic trends, to arrive at an accurate prediction of customer demands over a specified period of time.
This type of prediction allows businesses to align resources appropriately and meet customer needs, creating a more efficient operation and higher levels of customer loyalty.