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HOME SERVICES FORECASTING |
Forecasting entails the estimation of future behavior of business variables, in terms of values and directional trends, based on their historical values and other influencing factors. Forecasting models are used to aid decision making on strategic, tactical and operational levels.
| Benefits |
| Strategic Benefits |
| Get a feel of the market pulse |
| Develop strategy for entering new markets |
| Understand market drivers & market sensitivity |
| Understand market requirements |
| Tactical and Operational Benefits |
| To hedge against market volatility and insecurity |
| Reduce business anxiety in terms of product price and availability |
| Inventory and distribution planning |
| Sales and marketing planning |
| Resource planning |
Based on insights from our clients, we work with them to identify the best possible combination of the 3 dimensions that scope the forecasting effort: 1) Time 2) Product and 3) Geography.
DecisionCraft possesses immense expertise in developing forecasting models based on advanced time series analysis (For e.g., Exponential smoothing, Box-Jenkin's, Box-Tiao, ARCH/GARCH) and regression techniques. We have developed a robust modeling methodology, which ensures that all inherent patterns in the data are incorporated along with the effect of critical influencing factors, both internal to the business and from the external environment.
Some typical forecasting engagements with our client include:
- Developing an approach based on best-practices for forecasting sales of FMCG
- Forecasting the region-wise demand for commodities
- Forecasting the prices of petrochemicals globally
