Demand Forecasting Analytics in Singapore

Niveus Solutions18 Apr, 2023Technology

This is a discussion about the importance of demand forecasting for businesses that have variable demand and supply seasons. Demand forecasting helps businesses predict the future demand for their products and services so that they can minimize costs for stock, purchase orders, and staffing. The article discusses the different types of demand forecasting, including passive and active demand forecasting, micro and macro-level demand forecasting, short and long-term demand forecasting. It highlights the importance of demand forecasting in the manufacturing and retail industry for monitoring and adjusting stock levels and ordering frequency. The article also includes a case study about how Niveus Solutions helped a client build a prediction system that forecasts call volumes for the near future based on historical data, using cloud-based data analytics platforms.