Enhanced Forecasting with Machine Learning Implementation

Traditional forecasting, using isolated applications, disconnected data silos, or error-prone spreadsheets is often more difficult--and inaccurate--than it needs to be. Whether seeking to optimize inventory and reduce waste, balance staffing levels to increase customer satisfaction, improve long-term capital utilization, or simply provide more accurate demand, supply, production, sales or financial projections for future periods, modern enhanced forecasting can be greatly improved with the proper integration of historical and related data sources and the use of machine learning.

Enhanced forecasting enables improved allocation of resources and improved business performance. Until recently, efforts to improve forecasting often produced marginal results, and required a significant investment of time and resources. Many businesses end up with simplistic forecasts telling them that “tomorrow will look a lot like yesterday.” But with modern tools and approaches, pursuing enhanced forecasting can both enable and be a catalyst for digital transformation across the enterprise and greatly increase the accuracy and usefulness of future projections.

TensorIoT can work with you to implement enhanced forecasting, a new approach to forecasting backed by machine learning. By combining historical data with related data, including holiday schedules, weather, product descriptions and promotions, plus public datasets which may be correlated with business activity, you can forecast business outcomes more easily and accurately. And over time, forecasting can be improved with repeated training of models, creating a custom model specifically suited to your particular forecasting needs. Our consultants will work with you to create a pipeline of inputs, including historical and related data, make your data available to Amazon Forecast, create a customized forecasting model, and make your forecasts available in multiple formats, exporting it for use in other applications, or presenting it in a customized web or mobile application tailored to your requirements.

With TensorIoT's forecasting implementation offer, you can quickly elevate your ability to forecast across multiple areas of your business, with a scalable solution that can tackle even the largest and most complex forecasting needs.