Tag: new product forecasting

Analytics | Artificial Intelligence | Internet of Things | Machine Learning
Charlie Chase 0
Practical approaches to new product forecasting using structured and unstructured data

When it comes to forecasting new product launches, executives say that it's a frustrating, almost futile, effort. The reason? Minimal data, limited analytic capabilities and a general uncertainty surrounding a new product launch. Not to mention the ever-changing marketplace. Nevertheless, companies cannot disregard the need for a new product forecast

Leo Sadovy 0
Why analytic forecasting?

Because you are already halfway there and you should want the entire process to be data-driven, not just the historical reporting and analysis.  You are making decisions and using data to support those decisions, but you are leaving value on the table if the analytics don't carry through to forecasting.  In the

Mike Gilliland 0
Forecasting new products (Part 2): By analogy

The real estate market provides a good example of the use of analogies. To determine a reasonable listing price for a property (such as this dump on the right) that is new on the market, the sales agent will prepare a list of "comps"  (comparable homes) that are currently on the market or

Mike Gilliland 0
Forecasting new products (Part 1)

How do you build a forecast when you have no historical data? This is a recurring challenge for businesses that update their product offerings, and a recurring question in online forecasting discussion groups (e.g. this one on LinkedIn). The bad news is that you probably can't expect to achieve highly

Mike Gilliland 0
Forecast Value Added Q&A (Part 5)

Q: ­Company always try to forecast 12 or 24m ahead. Whether we should track accuracy of 1m/3m/ 6m or x month forecast, does that depend on lead time?  How to determine out of these 12/24 months, which month should we track accuracy? Correct, forecast performance is usually evaluated against the

Mike Gilliland 0
Forecasting fashion apparel (Part 2)

Have you noticed the annoying stock art they put on The BFD blog header? All I can think of is "If those idiots only used SAS Forecast Server, they wouldn't have to draw graphs all over their window panes just to do forecasting." It must really p.o. the housekeeping staff at that

Mike Gilliland 0
For the love of forecasting

Love can make a person do bad, dangerous, stupid, and irresponsible things.  Love of country can make a politician stray from his wife. Love of Pepsi can make a pop musician lose his hair in a pyrotechnics-gone-bad commercial. Love of acting can make academy award winners accept starring roles in Ishtar. And for