predictive analytics Archives

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Predictive Analytics & Probabilistic Planning

Eric Wilson, CPFNovember 18, 2019

What if we not only knew what the forecast will be for an item for the next period, but also understood a range of potential outcomes for that item? What if we didn’t just have a number, but we also had a list of drivers that contributed to many p... Read More...

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IBF Talks To Dr. Eric Siegel

Andrew Scuoler CPFNovember 4, 2019

IBF spoke to Dr. Eric Siegel, author of the best-selling book Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die, and host of the Dr. Data Show on YouTube. He reveals why predictive analytics has become a critical best practi... Read More...

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Differences between forecasting and predictive analytics

Differences Between Demand Forecasting & Predictive Analytics

Eric Wilson, CPFSeptember 19, 2019

For many companies and demand planners, predictive analytics seems revolutionary. To others, it is just a more advanced version of normal demand planning. The concepts of behavior predictions can be traced back to the year of 1689 and many of the new... Read More...

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Forecaster’s & Planner’s Guide To Data

Eric Wilson, CPFAugust 26, 2019

In supply chain and operations, raw materials are substances that are used in the manufacturing of goods. They are the commodities to be transformed into another state that will either be used or sold. For algorithms or predictive models, data is th... Read More...

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The 6 Models Used In Forecasting Algorithms

Eric Wilson, CPFApril 22, 2019

An algorithm is a procedure or formula for solving a problem, based on conducting a sequence of finite operations or specified actions. Generally speaking, when most people talk about algorithms, they’re talking about a mathematical formula or someth... Read More...

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5 Ways To Win Executive Support For Predictive Analytics

Eric Wilson, CPFMarch 11, 2019

Even though you know why predictive analytics is important to your organization, others may not. Some people in your company don’t understand it yet. That’s OK. But you need to get your executives onboard and buy in to the idea. Here the 5 steps that... Read More...

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What Is Predictive Analytics?

Eric Wilson, CPFFebruary 11, 2019

As a discipline, predictive analytics has been around for many decades and has been a hot topic in academia for many years. Its application in the field of demand planning, though, is still relatively untapped. Its effective uses in business are more... Read More...

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10 Real Life Predictive Business Analytics Examples

Eric Wilson, CPFJanuary 28, 2019

Predictive analytics can help us estimate how many units we will sell of the product, but that’s not the only thing predictive analytics tells us about. Business forecasting and predictive analytics can also be used for insights into relationships so... Read More...

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The 4 Phases Of Predictive Analytics From Start To Finish

Eric Wilson, CPFOctober 10, 2018

Predictive Analysis is a process of collecting, transforming, cleaning, and modeling data with the goal of gaining consensus of a future forecast. This provides the required insights for making informed decisions. This process consists of the followi... Read More...

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How Starbucks Uses Predictive Analytics And Your Loyalty Card Data

Eric Wilson, CPFMay 29, 2018

In the era of Big Data and growing competition, it's no longer enough that Starbucks baristas know you like a tall skinny vanilla latte. The iconic Seattle coffee brand is relying on Demand Planners and Data Scientists behind the scenes to increase m... Read More...

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