The Exponential Smoothing Forecasting Methodology
Exponential Smoothing helps companies make some of the most reliable forecasts. Although exponential smoothing was developed more than 30 years ago, it is still a subject of great interest in the circle of statisticians and forecasters. In any case, its reputation as a robust, easy-to-understand method has grown in recent years, often at the expense […]
Comparing Forecasting Methods: “Classic” statistical Methods vs Machine Learning
Comparing Forecasting Methods: “Classic” statistical Methods vs Machine Learning Machine Learning methods are often reported to be the key solution to all predictive modeling problems and can out-perform classic methods. Some studies have reported different comparative results. We are presenting hereafter results of two studies. First study: Classic Statistical Methods outperform Machine Learning In a […]
Forecasting with Dynamic Regression
Forecasting with Dynamic Regression Dynamic regression is a regression model that includes explanatory variables and/or dependent variables with time lags. The dynamic regression approach therefore allows the development of models that combine the dynamics of time series type models and that allow explanatory variables or advanced indicators to be taken into account. The classic regression […]
Forecasting with Box et Jenkins Methodology
Forecasting with Box et Jenkins Methodology The Box & Jenkins forecasting methodology is a powerful forecasting technique. It can outperform several other methods like Exponential Smoothing or Simple Regression. Its use within companies is sometimes hindered because of its “complexity”. While exponential smoothing is widely used in business. But the development of automation algorithms and […]
Highlights of the main Forecasting methods for New Products
Highlights of main Forecasting methods for New Products In a changing environment, forecasting the demand for new products and services is key and very important in light of the investments put behind a launch. In addition, with strong economic competition around the world, evolving customers expectations, the emergence of new technologies and innovations, estimating and […]
Forecasting New Products and Services with Forecast Pro
Forecasting New Products and Services with Forecast Pro New products and services introductions are very important and critical to any company’s success and portfolio development. Forecast Pro has included several methods in most of versions of the software. Forecasting by Analogy In some conditions, we can use analogy approach to forecasting new products or […]
Projecting the Impact of COVID-19 on the Demand using Machine Learning.
Projecting the Impact of COVID-19 on the Demand using Machine Learning. Measuring and estimating the demand impact of any product and service is crucial for economic and energy planning and policy discussions. The Covid-19 pandemic has caused the demand for fuel to fall almost everywhere in countries that have adopted a reduction in human activities, […]
Forecasting with Qualitative Methods
Forecasting with Qualitative Methods The qualitative forecasting uses an approach and estimation methods based on the perception, evaluation and judgment of managers and experts within and outside the company. Thanks to their knowledge, expertise and experience, these people are able to build sales forecasts and other variables (market shares, new products, etc.) that fill gaps, […]
Forecasting Sales using Statistical Models
Forecasting Sales using Statistical Models In « How do I use Statistical Models to Forecast Sales? », published by Forecast Pro, you will find an excellent description of the main statistical methods and techniques to forecast any variables. All these methods are integrated in the latest version of Forecast Pro Trac 6. Sales and demand forecasters have […]
Machine Learning and statistical models are complementary
Machine Learning and statistical models are complementary Sales forecasting methods based on artificial intelligence, including Machine Learning and Deep Learning, are now nuggets that companies can add to their arsenal of methods and techniques to develop their sales forecasts. How can Machine Learning predict sales ? With a large amount of sales data over long […]