In the past decade, demand forecasting has become a central focus for E-commerce and retail companies, allowing them to better anticipate changes in demand and restock products before they sell out. Demand forecasting has traditionally been handled manually by analysts who use data from existing sources.
Today CPG is challenged by the changing consumer habits, the complexities in the supply chain and the wide choice of products and brands to choose from. The game has further changed due to the impact of COVID-19 globally.
Your business will survive and thrive only if you are ready to accept the importance of technology and are ready to strategically adopt it. When Covid-19 struck, the disruption created an opportunity in which the right technology adoption saved the businesses while others who did not feel the need of it, drowned.
Since the demand for same and next day delivery increases, CPG companies are faced with rising pressure to keep products on the shelf. Consumers expect to be able to buy what they want, when they want and brands need to deliver that. To help retailers satisfy the growing demand for on-shelf availability, it is wise to utilize a wide range of AI solutions that improve the order management process.
The financial market is one of the most important markets worldwide, with many professional analysts and consultants keeping a close eye on FinTech startups and their products. Big data analytics has become one of the buzzwords in the banking sector and it needs to be applied with the latest technologies to keep pace with the rapidly changing customer needs in all spheres of business. In addition to safeguarding the financial information, big data solutions offer the finance industry to predict vulnerabilities, estimate credit risk and generate loyalty.
The history of analytics tells a broader story about how our world is changing. And today, as the pace of change accelerates, businesses need a way to not only respond quickly to new situations but also anticipate and predict them. With advances in big data, cloud computing and the internet of things, the possibilities are endless.
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