Forecasting Solutions – Leveraging the power of AI and Analytics
3AI March 6, 2022
Forecasting COE Director
Forecasting gives businesses the ability to make informed business decisions and develop data-driven strategies across finance, operations, marketing, sales and other business functions. This is where forecasting solutions form an integral part of every organization in varied capacities. Forecasting plays an important role in driving strategic or operational decisions across the organization.
In this session, Nitesh touched upon Forecasting Methods: Qualitative & Quantitative methods including Delphi, Market Research, Moving Average, Box-Jenkins, Regression Models, Econometric models, etc. He explained various forecasting aspects across business strategy and execution areas. Nitesh detailed out a variety of problems forecasting helps solve, challenges involved and also the aspect of any forecasting solutions focussing on balancing accuracy and explainability. The session was concluded with the discussion on the role of forecasting within organizations during uncertain pandemic times – possible forecasting approaches that could specifically help in cases of such sudden events.