Leveraging AI-Based Forecasting Platform to Improve Demand Sensing

Leveraging AI-Based Forecasting Platform to Improve Demand Sensing

Industry Challenges

In the post-digital world, every moment is a potential market, and businesses need to capture the moments and markets by meeting the high expectations of the changed consumer. Businesses must provide on-demand solutions in light of the shifting consumer landscape. With the increasing complexity of business scenarios, there is a requirement for sophisticated forecasting platforms to reorient their focus and deliver for markets on demand.

Meeting the high expectations of the ever-changing consumer landscape.

Accurately forecasting demand for products across multiple locations and industries.

Planning for the right level of resources to meet the demand.

Problem Statement

The client’s platform needed to be equipped to handle various real business scenarios and provide intelligent AI-based recommendations with collaborative, automated workflows to provide businesses with accurate demand forecasting.

Our Solution

Efficient data ingestion: We gathered data from different sources in Azure Blob Storage and ingested the data into PostgreSQL. The ingestion module was optimized to efficiently ingest data into the database. The solution also supports multiple customers with different configurations for ingestion.

Pre-processing and preparation: Next, we pre-processed the data and cleaned it to store files in various Blob folders. The data was prepared for the Data Science team using configurations to generate accurate forecasts on clean data and for the Data Engineering team for Data Ingestion into the database.

Data validation and accuracy improvement: We ensured that the data underwent data cleansing to ensure data quality, i.e., they were both correct and useful for analysis. This was done through data validation. Our experts also performed analysis and generated reports for accuracy improvement. Finally, we ran pipelines in their AI model to ensure the smooth processing of data for better decision-making.

Continuous improvement: The solution will continuously monitor the data ingestion, pre-processing, preparation, and validation processes to identify areas for improvement.


Business Impact

Demand Planning – Accurately forecasts demand levels for stores, manufacturers, etc. across multiple locations.

Financial Planning – Helps in financial forecasting for metrics like revenue, expenses, and cash flow.

Resource Planning – Enables businesses to plan the right level of resources like manpower, raw material, and advertising inventory.

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