How often have you had the thought “if I only knew that … then I would have ...”? Knowledge of the future would likely have changed your decisions, and although we can’t provide you with a magic crystal ball, accurate forecasting is the next best thing.
Forecasting is the process of making predictions of the future based on historical data and is used to inform business decisions in many areas including retail, marketing, telecommunications, finance and insurance. Forecasting can provide data-driven insights informing critical decisions and can be applied to both short-term, fast paced aspects of business, such as daily or weekly sales, or long-term behaviour like economic, seasonal and social changes.
A general process for achieving accurate forecasts, which has been applied by Opti-Num, is described below:
At Opti-Num Solutions, we know that your business needs are unique. For this reason, each forecasting model is tailored to both your data and a deep understanding of your business considerations. We take pride in walking this journey with our customers. Opti-Num Solutions’ tools and Business Intelligence Services are well positioned to help your company get the most out of forecasting.