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FuturMaster unveiled Forecast at Scale, which combines machine learning with an unprecedented capacity for processing massive datasets to reduce volatility by leveraging demand closer to consumers.
"We're thrilled to introduce Forecast at Scale by FuturMaster, an innovation that redefines demand planning and aligns with our vision of helping companies unleash the complexities of their supply chains and turn them into competitive advantages. Amidst today's volatile and uncertain business landscape, Forecast at Scale empowers businesses to thrive," says Gilles Lefebvre, chief product and R&D officer at FuturMaster.
Key takeaways:
- Forecast at Scale also considers external variables impacting demand, such as weather, events, and social trends.
- Forecast at Scale technology marks a transformative shift in utilizing data closer to consumers, often underutilized in current practices. It enables businesses to harness this data as a strategic asset, significantly enhancing ROI and providing a competitive edge in data-driven decision-making.
- Forecast at Scale also combines distributed storage and massively parallel processing to handle vast data volumes efficiently.
- It categorizes products and locations based on specific sales patterns, such as seasonal, stationary, or discrete, and then selects a tailored pool of forecast models for each category. Utilizing artificial intelligence, the system automatically determines and applies the most suitable forecast model for each product and location, ensuring optimal accuracy and efficiency in forecasting.
- This solution also employs artificial intelligence to autonomously assess and incorporate relevant external variables into the analysis for each product and location based on sales pattern. It transforms relevant raw data into actionable insights, providing a comprehensive view of each product and location's performance and enhancing its forecast accuracy.
- Forecast at Scale enables instantaneous analysis and on-the-fly forecast adjustments, even with large datasets, facilitating more agile and informed business strategies.
