EDA: How Data Analysis Becomes a Necessary First Step for Big Data and Predictive Analytics Modeling
When a multidisciplinary research study group at Princeton University undertook a study of the paired uses of electricity and gas in townhouses, it contacted the residents of Twin Rivers, a […]Read more ›
Are Your Demand Planners and Management Ready for e-Commerce Forecasting?
In recent times, demand forecasting has become a vital discipline for business planners to master in modern consumer demand-driven supply chain organizations. However, the vital skills necessary for demand planners […]Read more ›
Why MOVING AVERAGE Forecasting Needs to be Swept into the Dustbin
When was the last time you saw moving average forecasts being used for forecasting sales, inventory, production or Supply Chain training and certification programs? Hopefully, not within the past two decades, […]Read more ›
How to Get Insights Into Forecasting the Demand for New Products and Services
One objective of a smarter forecasting process is to identify and evaluate systematically all factors, which are most likely to affect the course of demand for products and services. What […]Read more ›
Why Are Graphical Displays So Useful in Forecasting?
The purpose of a smarter forecasting process is to identify and evaluate systematically all factors, which are most likely to affect the course of demand to produce a realistic view […]Read more ›
WHY Demand Managers Need to Manage a Demand Forecasting Process That is Independent of Plans and Targets
The demand forecasting process is a complex process. Complex processes require checklists for effective execution. Here is a comprehensive Demand Forecasting Principles Checklist I found on the web oriented for […]Read more ›
The Demand Planner’s Dilemma: Is a Forecast Just a Number or Something More?
Tens of thousands of years ago, if you asked a group of tribe members and community leaders to raise their right hand if they believed the earth was flat, all […]Read more ›
How Business-Cycle Data Analysis Can Lead to More Insightful Forecasts of Upcoming Economic Downturns
In a previous article on improving-data-quality-through-exploration, I show how Tukey’s exploratory data analysis (EDA) offers an opportunity towards a smarter demand forecasting process. I will now focus on how business […]Read more ›
Data Quality Matters: Are Your Demand Planners and Forecasters Adequately Prepared?
The quality of historical data will be enhanced if we make the effort to clearly identify key demand patterns in time series. It should not be assumed that once a key […]Read more ›
How Smarter Forecasting Changes the Way We Deal With Data, Methods and Uncertainty in the Supply Chain
Getting them to take a different path, a new path. The question is, are we talking to the elephant or the rider? As demand forecasters we must strive to induce […]Read more ›
How Consumer Habit and Where Consumers Live Drive the e-Commerce Demand Forecast
As an example of e-commerce demand forecasting, consider the market for selling books online, like my latest book Change&Chance Embraced: Achieving Agility with Smarter Forecasting in the Supply Chain, from which […]Read more ›