AI in demand forecasting Machine Learning for Identifying Demand Patterns| thouSense Demand forecasting is an essential stage. Businesses incur the risk of having inventory management problems, which might lead to either over- or under-ordering of specific commodities at particular times. When there are too many products on the market, businesses may need to provide discounts to sell surplus inventory, but shortages
demand analysis Featured Why We Created "Dexter": The Ultimate Q&A Sales Chatbot for "thouSense" Powered by Generative AI In today's increasingly interconnected digital era, information is the key to decision-making. While conventional methods of customer engagement have served us well in the past, the rise of Generative AI has opened new horizons for user interactions. Recognizing this paradigm shift, we at Thoucentric Labs embarked on a mission to
AI in demand forecasting How AI/ML-Enabled Demand Forecasting Boosts Logistics| thouSense In the intricate world of supply chain management, logistics stands out as the area with the most potential for unpredictability. These complexities include a wide range of elements, such as erratic weather patterns, shifting fuel prices, and the mysterious expenses related to last-mile delivery. The growing use of Artificial Intelligence
AI/ML Featured Why Explainable AI is Vital for Demand Forecasting: Empowering Demand Planners with Confidence and Accuracy Uncover the transformative power of Explainable AI in demand forecasting. Learn how XAI empowers demand planners, builds trust in AI predictions, and aligns with business objectives for pinpoint accuracy in the supply chain world.
AI/ML Featured "Dexter - Talk to Your Data": Revolutionizing Data Analysis for Demand Planners and Business Users But what if conversing with your data was as simple as chatting with a colleague? Introducing "Dexter - Talk to Your Data", an innovative feature of the Thousense demand forecasting product.
AI/ML How Artificial Intelligence is Transforming Demand Forecasting Introduction In today's dynamic business landscape, accurate demand forecasting is crucial for organizations to optimize their operations, minimize costs, and maximize customer satisfaction. Traditional methods of demand forecasting have often fallen short of providing accurate predictions due to their limitations in handling complex data patterns and dynamic market conditions. However,
demand analysis How trends and seasonality impact your forecasting Demand forecasting is the technique of estimating future customers' needs over a predetermined time frame. To provide the most accurate projections, demand forecasting typically considers historical information and other analytical information. Demand forecasting methods entail applying data analytics to understand and predict customer needs in order to analyse critical economic
AI/ML Featured Artificial Intelligence-based demand forecasting tool| thouSense There are a lot of buzzwords hot in the Data Science industry right now. Why there is so much rave on the data science industry right now? Data Science is defined as the complete method for obtaining meaningful insights from unstructured data, which includes topics such as statistical analysis, data
Supply Chain Featured 4 Mistakes that Retail Companies Make While Forecasting Demand Demand forecasting in the retail industry The retail industry is an ever-green industry catering to a wide range of product categories. From grocery stores to life stores all retailers rely on forecasting products which helps them in gaining profit. Today, it is incredibly challenging for businesses to generate profitable and
demand analysis Featured Why is Demand Forecasting the need of the hour? Introduction to Demand Forecasting Demand forecasting, in a corporate context, is the process through which demand planners attempt to estimate what demand for a certain product or service will be in a particular period, which can be a week, a month, or even a year. Its only goal is to
AI/ML The Power of AI/ML In Demand Forecasting ML forecasting in demand helps analyse data, predict future behaviour, and make predictions.
AI/ML 5 Reasons Why You Should Use Machine Learning for Forecasting Demand Demand Volatility has been one of the biggest pain points for businesses. Machine learning has proven to have helped demand planners increase their forecast accuracy beyond what was achievable via a mixture of traditional statistical methods and human intuition. There’s also a thumb rule that suggests that one can
