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Better Data, Better Forecasts

Through supply chain design, purchasing, operations, inventory, sales, and marketing, demand forecasts are critical. Ray Major discusses the significance of good data and forecasting in an article for Smart Data Collective. The numerous upsides of forecasting include better estimates of demand, organizational alignment, faster response to risk, uncovering hidden opportunity, improving marketing IQ, price optimization, and understanding time horizons. It also helps you answer questions like knowing what your best and worst case scenarios look like, or what would happen with an adjustment of promotional spend. You can read about these ideas and more in their full depth here: http://smartdatacollective.com/ray-major/277856/forecasting-it-s-what-s-hot-supply-chain-analytics

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