Prevedere is an industry insights and predictive analytics company, helping business leaders make better decisions by providing a real-time view of their company’s future. While most companies can easily report on internal performance, Prevedere’s external real-time insights engine constantly monitors the world’s activity, identifying future threats or opportunities to business performance. Along with a team of industry experts, data scientists and economists, Prevedere helps business leaders make the right decisions in an ever-changing world.

How to create business demand forecasting success across an organization is one of the most common questions we receive. We wanted to provide some research and insights on the topic from industry leaders.

It is always time to examine and measure how demand forecasts are currently built. Here are a few questions to consider:

-Are you looking beyond historical performance in your forecasts?
Is seasonality considered?
-Has any room for bias and “gut feel” been eliminated?
-Do you know which external factors – like gas prices, currency rates, consumer sentiment, real estate trends, etc. – affect your performance?
-Are you incorporating the leading indicators for your industry and business?
-Are you using the power of machine learning and predictive analytics to constantly improve your forecasting efforts?

If you answered no to any of these questions, it’s time for a change. In today’s volatile economy, historic forecast accuracy benchmarks are simply unacceptable. Contact us to learn how we’re changing the model.