Tech Guest Viewpoint: Avoiding Time-Series Demand Forecasting

Silicon Valley’s Winchester House confounds visitors from around the world. An eccentric heiress spent decades adding endless rooms and hallways, doors that lead to nowhere, and random structural additions — turning a home into an inscrutable, imposing and meandering oddity.It’s a prime example of add-ons gone wild — and a good analogy for the state of retail forecasting today. Many of today’s retail forecasting systems have been added to and tweaked over decades until they have become imposing and complex, leading to a burdensome, difficult to maintain and a vastly different expression of their original intent — to provide retailers with accurate forecasts that lead to greater insight on the drivers of consumer demand, improved sell-through, successful promotions, and greater profitability.The time-series forecasting methods still used by most retailers today…


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