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FORECASTERONLINE
– FORECASTING SIMPLIFIED
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Forecasting
Forecasting is estimation of the expected value for some variable in future.
Its a technique which helps management in its attempts to cope with
the uncertainty of the future.
Forecasting forms a base of a advanced Decision support system for any
organization.
For organizations forecasting provides the ability to address difficult business
issues and then use those findings to differentiate them from the competition.
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Data Access
Data management
Report and OLAP
Forecasting and Analysis
optimization
Organizational move from data to information to knowledge, and finally to intelligence.
DATA INTELLEGENCE
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Forecasting techniques Time series/ Trend analysis
Methods for analyzing time series data in order to extract meaningful statistics and other
characteristics of the data.
What if Analysis
Also called as sensitivity analysis, this is a attempt to represent a real-life system with
a model to determine how a change in one or more variables affects the rest of the system
Neural Networks
A type of artificial intelligence that attempts to imitate the way a human brain works by
creating connections between processing elements.
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Better
- Strategic information
- Marketing information
- Financial information
- Operating information
- Allocation of resources
Increased
- Customer service
-Manufacturing and operating efficiency
- Profitability
- Return on investment.
- Higher productivity
- Stability in planning
- Elimination of waste
BENEFITS OF
FORECASTING
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Forecast demand for products and services.
Which product will be in demand in how much quantity in which region
Perform promotional analysis.
Will the 10% increase in discount assure sales increase by 20%
Predict staffing and resource needs.
How many resources will be required to complete the work in said deadlines
Make effective pricing decisions.
What will be the correct price for a new launch to get an edge over competition
Predict customer and market behavior.
What type of product mix is preferred by customers of age group 20 – 30 years
Application of Forecasting in Functions
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Retail -
Mostly used for performing customer clustering and demand analysis for FMC goods. Also helps to plan for promotions and new product launch
Pharmaceuticals -
Plays a major role in Clinical research and R&D. Statistics say that application forecasting reduces as high as 50% of the research failure cost
Banking And Financial services –
Credit Analysis, Fraud detection are some areas in BFSI where forecasting has proved to be a game changer.
Manufacturing –
Used mainly for production and material planning. Further gives insights in inventory management and supply change optimization.
All Domains
Application in Business
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1) Forecasting requires heavy number crunching using terabytes of data.
2) Complex algorithms can only be handled by faster processing machines to deliver on demand results.
3) Thus TPS uses cloud computing models for supporting Forecasteronline..
4) Cloud computing has some attractive qualities for scientific researchers. It delivers data storage and processing as a service, rather than software that's loaded onto a hard drive, or something that sits on a desk somewhere.
5) In the cloud, the "supercomputer" exists virtually, meaning no clunky hardware; the software interface is easy to use; and scientists have access to their data and simulations from just about anywhere by simply logging in..
Number Crunching through Cloud Computing
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Users Log on to Forecaster Online and sent in their data`
Complex algorithms are run on the cloud server “Amazon EC2”
Cloud Architecture supporting Forecaster Online
Forecaster Online
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Amazon EC2 Cloud server
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Existing Tools
Forecasting uses highly complex analysis and exhaustive algorithms to tackle tricky scenarios. Large
amount of number crunching is done using different statistical techniques.
Big giants in forecasting are SAS and SPSS.
Drawbacks
Desktop based – Need installation on every system thus increasing infrastructure cost
Need statistical knowledge to work with.
Provide plethora of features which are not necessarily required for your
business perspective
High licensing cost.
Web based are a few like Lokad and Vanguard but again involve heavy licensing cost.
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Introduction to Forecaster Online
Forecaster online is a web based on demand forecasting solution developed by Trans Pacific Software. http://www.forecasteronline.com/
The tool is based on SAAS (software as a service) model and gives a easy to use console to the end user.
The tool runs on backend customized algorithms that suit your organization data and can plot and forecast trends in the data over a period of time.
Forecaster online uses highly advanced backend algorithms to parse the data, determine patterns and forecast using different parameters in the input.
Forecaster online acts as a one stop tool for executives as well as Managers
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TPS Advantage and Customization.
Forecaster online is a fully customizable SAAS based offering from Trans Pacific
We understand that every business is unique in its own way and thus has to be
supported by unique solutions
TPS has a team of analyst who work closely with the client on every project and devise a
strategy to develop a customized algorithm to best suit your business and provide error
free forecasting.
A team of developers than cast this strategy into coded algorithms which work on the
data.
Customized solution thus makes the forecasting more reliable.
Being a web based solution on SAAS model assures the client low cost on maintenance
and upgrades and easy accessibility.
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- Optimized resource utilization
- Demand identification.
- Reduction in overhead cost
- Better business Planning and risk analysis.
- Budgeting Performance Analysis.
Business
Benefits
- Highly researched Algorithms in Time-series Forecasting
- Extremely simple interface with little or no training
- Free trial
- Data input in excel with Direct database connectivity
- Fully for customizable
- Highly cost effective
Features
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Thank you
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