Market Overview

Quantzig – The Top Demand Forecasting Methods That Every Company Needs to Use

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Quantzig, a global analytics solutions provider, has announced the
completion of their latest article on the top
demand forecasting methods
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180905005516/en/

Know Where to Draw the Line with the Help of Demand Forecasting. (Graphic: Business Wire)

Know Where to Draw the Line with the Help of Demand Forecasting. (Graphic: Business Wire)

Demand forecasting is the scientific and systematic estimate of the
demand for a specific product in the future. Customer demand is
extremely dynamic and unless organizations correctly chart out the
demand patterns and ascertain the amount of goods to be produced, the
chances of overstocking or understocking of goods are likely to happen.
Using demand forecasting techniques, organizations can find what
customers are buying and improvise on products that are not coping well
in the market. To help such companies, Quantzig has listed the top
demand forecasting methods in this blog.

Request
a proposal
to know more about our analytics solutions.

According to the analytics experts at Quantzig,
"Adopting demand forecasting methods helps companies to cope
with seasonality, sudden changes in demand levels, price-cutting
maneuvers of the competition, strikes, and other major swings of the
economy."

Demand forecasting methods

  • Predictive analytics: This method uses mathematical principles
    to predict consumer behavior based on the current or historical data
    and is one of the most effective demand forecasting methods.
    Predictive analytics uses data on how a company's products appeal to
    and relate with the customers. This analysis includes the explanation
    of consumer trends and making assumptions based on recent/past trends.
    One of the major disadvantages of such demand forecasting methods is
    that the inducing current data doesn't give insights into the future
    because of unexpected problems that may occur. Request
    a demo
    to know more about the popular demand forecasting
    methods.
  • Delphi method: The Delphi method is one of the oldest demand
    forecasting methods that is currently being used. Experts in this
    technique are surveyed secretly. The survey contains several rounds,
    and after each round, a summary is formed, which is then changed into
    another question. These summaries and questions are then handed over
    to the experts, which can either sway their opinion or they can have
    it remain the same. This process is repeated several times until the
    experts reach a consensus on the decision. Get
    in touch
    to know more about the demand forecasting methods.
  • Client intent surveys: Such demand forecasting methods are
    performed to identify what the customer intends to buy in the future.
    This is particularly useful if the company is planning to introduce a
    new product to the market. You might frequently come across such
    surveys before entering a company's website or opening certain video
    contents. The questions are typically in the form of a scale to assess
    how likely their chances of are of purchasing a particular product.
  • Visit our
    page
    , to view the complete list of the demand forecasting
    methods

Quantzig
is a pure-play analytics advisory firm concentrated on leveraging
analytics for prudent decision making and offering solutions to clients
across several industrial sectors.

Request
a proposal
to see how Quantzig's solutions can help you.

View the complete list of the demand forecasting methods blog here:

https://www.quantzig.com/blog/know-draw-line-help-demand-forecasting

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US,
UK, Canada, China, and India. For more than 15 years, we have assisted
our clients across the globe with end-to-end data modeling capabilities
to leverage analytics for prudent decision making. Today, our firm
consists of 120+ clients, including 45 Fortune 500 companies. For more
information on all of Quantzig's services and the solutions they have
provided to Fortune 500 clients across all industries, please contact us.

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