NLS.Consulting

Demand Forecasting: Using Big Data

Accurate Forecasts

Assortment Optimization

Improve Business Efficiency

What is Demand Forecasting?

Demand forecasting is the process of using big data to predict the future demand for your products and services. By utilizing advanced data analysis methods, our service allows you to accurately understand what will be in demand and effectively plan your assortment. This aids in inventory optimization, cost reduction, and increasing your business's profitability.

Why is this important?

Accurate Forecasts: Understanding future demand helps you better manage inventory and minimize risks.

Assortment Optimization: Planning assortment based on data allows you to meet customer needs and increase sales.

Cost Reduction: Efficient inventory management and production of only demanded products can reduce operational costs.

Increased Profitability: Correct demand forecasting leads to increased sales and profitability.

Competitive Advantage: Quick and accurate response to demand changes strengthens your market position.

Our Approach

Data Collection and Processing
- Collecting data from multiple sources: sales, marketing research, external market data, etc.
- Cleaning and preparing data for further analysis.
Applying Forecasting Models
- Using advanced data analysis and machine learning methods to develop demand forecasting models.
- Analyzing historical data and identifying trends and seasonal patterns.
Developing Recommendations
- Compiling reports with data visualization and demand forecasts.
- Providing specific recommendations for assortment planning and inventory management.
Implementation and Support
- Assistance in integrating obtained forecasts into current business processes.
- Training your team to use data for strategic decision-making.
Monitoring and Adjustment
- Continuous monitoring of forecast accuracy and adaptation based on new data.
- Regular updating of models and analysis methods for improved forecast accuracy.

What will you gain?

Accurate Demand Forecasts: Understanding future market needs and demand trends.

Inventory Optimization: Reducing costs and preventing excess or shortage of products.

Improved Assortment Planning: Data-based assortment will meet customer needs and increase sales.

Increased Profitability: Effective inventory and production management will enhance profit.

Expert Support: Consultations at all stages of forecasting and recommendation implementation.

Trusted partners

Our seasoned consultants have collaborated with dozens of industry-leading brands, bringing a wealth of experience from diverse sectors to your business challenges.