Generate A Forecast That Considers All Factors
The Arkieva Smart Forecast Modeling Engine considers different demand shaping activities and macroeconomic factors including the effects of promotions and weather.
Make Decisions Like a Data Scientist with Forecast Modeling
Even if you are not. We won’t tell if you don’t.
Arkieva Smart Forecast Modeling
We get it – generating an accurate forecast is almost an impossible task.
The demand forecasting process can be quite tedious given that it requires a lot of collaboration with different functions of an organization – operations, finance, sales, and marketing. Your days can be filled with manual data entry, information gathering and continuous fine-tuning – all without clarity on – if you are helping or hurting your forecasts.
The Arkieva Smart Forecast Modeling Engine improves your forecast accuracy and simplifies your forecasting process with quick access to an automated baseline forecast.
We’ve spent years perfecting the science of forecasting with the development of proprietary algorithms and artificial intelligence so you can easily generate a forecast and make it better with your art.
What is Arkieva Smart Forecast Modeling?
The Arkieva Smart Forecast Modeling Engine gives planning teams access to 100+ forecasting methods and uses proprietary algorithms and machine learning to generate the best-fit forecast. To further simplify the selection process, users have the option of letting the Arkieva Smart Forecast Modeling Engine automatically process and pick the best method with the right parameters.
Gain Access to A Better Baseline Forecast
Arkieva Smart Forecast modeling gives you access to a better baseline forecast for collaboration even if you are not quite versed in all the different forecasting methods that the system offers.
Automatically Select the Best-Fit Method
The system considers a variety of factors including the data type such as seasonality or intermittence, the right aggregate level, and parameters. Then, it uses artificial intelligence and our proprietary algorithms to select the best-fit method.
Feel Empowered Even if You Don’t Have an In-house Data Scientist
We’ve invested in the heavy lifting data science work, so you don’t have to. Generate your best-fit forecasts without spending the time trying different combinations.
Continuously Improve Your Forecast Accuracy
Improve your forecasts with machine learning. Arkieva Smart continuously learns from both qualitative and quantitative inputs including knowledge from sales and planners, and your sales order history.
How Does Arkieva Smart Forecast Modeling Work?
Empower Your Team with a Better Baseline Forecast
Powered by artificial intelligence and our proprietary algorithms, Arkieva Smart Forecast Modeling uses Smart Selection to determine which forecasting method works best for your business. The best forecasting method is selected from hundreds of methods including Holt-Winters, moving average based, trend-based, cycle-based (for example seasonal or Fourier) and more specialized methods such as ARIMA (Box-Jenkins), causal and Croston’s method.
Here’s how the Smart Selection Process works
Data Categorization
The Smart Forecast Modeling engine uses machine learning to categorize your data based on the data type.
Method Optimization
Based on the data categorization the Arkieva system determines the best forecast methods for the chosen forecast data.
Parameter Optimization
After determining the best forecast methods the system optimizes each forecast method parameter
Smart Forecast
The final optimal forecast is generated based on the best method and the right parameters.
GO BEYOND STATISTICAL FORECASTING. EXPERIENCE SMART FORECAST MODELING.
Avoid Version Omission
“Was it Version 12.1 that was supposed to be marked final? And was that before Mark made the change, or did I miss the email?”
Version Omission with spreadsheets results in an unnecessarily complicated process. The Arkieva Smart Forecast Engine uses the One-Plan centralized Arkieva Demand Planner solution that saves, and updates changes automatically, making version omission a thing of the past.
Focus on Value-Add Forecasting
With access to your theoretical maximum forecast accuracy levels, you can know if it’s worth spending time to adjust or further collaborate on forecasts. For products that are closer to your theoretical maximum forecast accuracy level, you can decide to simply automate your forecasts. This gives you more time to spend on exception planning for products that are difficult to forecast.
Know When Your Forecasts Are ‘Good Enough’
The Arkieva Smart Forecast Modeling Engine uses machine learning and proprietary algorithms to determine your theoretical maximum forecast accuracy level. This unique feature gives you a forecast accuracy goal to work towards.
Combine Human and Artificial Intelligence
Using the machine learning features of the Arkieva Smart Forecast Modeling, the system combines and learns from a wider variety of data inputs including, structured and unstructured data to create a more accurate demand plan.
Stop Future Forecast Errors Before They Occur
Artificial intelligence with the Arkieva Smart Forecast Modeling reduces the chances of having similar forecast errors in the future. The system continuously learns and fine-tunes your forecast over time.
Consider All Possible Forecast Scenarios
Empower your team to quickly re-plan and respond to changes by simulating different customer behavior including price change, weather and other macroeconomic factors.
