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Forecasting Methods

Does crunching all the numbers and compiling all the necessary data needed to create an “accurate” forecast make your life difficult and stressful? Data Profits understands your pain and we can help.

What is the Consolidated Forecasting Method?

Data Profits’ Consolidated Forecasting Method provides increased accuracy and ease of management for you and your team. The Consolidated Forecasting Method’s forecast engine, Baseline+™, can utilize a small amount of data like sales history, or a full set of data such as promotional history, lost sales, expected future events, location data, and much more, to streamline the process and create budgets, plans, and sales goals leading to one forecast for planning, buying, and replenishment… one version of the truth. Data Profits’ Consolidated Forecasting Method understands the complexities of your business and takes into consideration all seasonal, market, and event factors. Do you want to learn more about how you can get one version of the truth?

FREE Inventory Optimization Kit

Are you feeling the pressures of inaccurate forecasts that lead to too much overstock inventory? Are you having difficulty creating accurate forecasts for a large number of SKUs with complicated buying patterns? Are you tired of dealing with best pick models that don’t take promotions and seasonal trends into consideration? Then Data Profits’ Consolidated Forecasting Method can help by providing you with one accurate version of the truth.

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Goals

Through the use of Data Profits’ Consolidated Forecasting Method, your company can reach all of its forecasting goals:

  1. Improve or maintain service with the lowest inventory investment possible to:
    • Increase Sales
    • Decrease Excess Inventory
    • Decrease Operating Expenses
    • Increase Profits
  2. Improve your image in the eyes of your customer, positioning your company as the store with all the right products at the best price and availability

Benefits

What are the top 5 benefits of using Data Profits’ Consolidated Forecasting Method?

Data Profits’ Consolidated Forecasting Method is revolutionizing how your business does business and the benefits of the Consolidated Forecasting Method are unsurpassed:

  1. One centralized location to manage your forecast. You no longer need multiple systems; the iKIS solution provides you with all the tools you need.
  2. Lower cost of system ownership
  3. Forecast accuracy, meaning greater profit
  4. Better customer service
  5. Stronger financial plans