PlanR forecasting is based on historical data using full range Auto Machine Learning methods. Forecast accuracy is automatically evaluated and optimized in iterative cycles. In addition to standard forecasting functionalities such as new item/location mapping, PlanR forecasting is also capable of predicting short lifecycle product demands, determining forecast based on product features, and managing floating events as well as promotions.
With little to no forecasting, data science and statistics expertise required from retailers’ teams, scientifically calculated forecast is provided weekly for decision support across the company. Business can make real-time forecast adjustments, simulations and approval in the PlanR user interface, which offers built-in KPIs, alerts and charts as well as allows data viewing and manipulation at any hierarchy intersection.
Seamlessly integrated with our Retail Financial Planning solution, PlanR forecasting guides the business in making informed sales target decisions. It also supports the business in assessing key value items in their assortments and the corresponding pricing strategies. PlanR forecasting not only enables maximized profitability plus optimized inventory level, but also increases retailers’ agility facing the constant evolving consumer demands and eco-system.
To learn more about PlanR’s forecasting features, contact us at https://www.blueskygrs.com/contact/.