EMPOWERING MACHINE LEARNING SOLVING THE FORECASTING DILEMMA Tom - PowerPoint PPT Presentation

Jul 27, 2023 •274 likes •771 views

EMPOWERING MACHINE LEARNING SOLVING THE FORECASTING DILEMMA Tom Stanek & Jonathan Prantner 2 Tom Stanek Jonathan Prantner President Chief Analytics Officer 3 Leading applied artificial intelligence and data science company from Ann

EMPOWERING MACHINE LEARNING SOLVING THE FORECASTING DILEMMA Tom Stanek & Jonathan Prantner 2
Tom Stanek Jonathan Prantner President Chief Analytics Officer 3
Leading applied artificial intelligence and data science company from Ann Arbor, MI Services and solutions • Leading Domo implementation and consulting firm • Custom artificial intelligence kick-start program • RXA Studio • Media Optimization • Voice of Customer • Workforce Optimization Over 70 different customers across North America, Europe, and Asia. 2019 Domo Innovative Partner of the Year 4
3 KEY TAKEAWAYS Solve Provide Domo 6
The Forecasting Dilemma Now what?
WE NEED TO KNOW WHAT ARE SALES WILL BE NEXT QUARTER 8
SALES ARE FORECASTED TO BE BELOW BUDGET... 9
…WHY? 10
…AND HOW CAN WE CHANGE THEM? 11
Sales Decomposition A Primer
WHAT IS A SALES DECOMPOSITION Market Mix Models decompose sales Volume Decomposition Due-to Analysis 13
MARKETING MIX FORECASTING Forecasting Sales using: Sales • Inventory • Pricing • Marketing • External Influences • 14
USE A PREDICTION MODEL TO DECOMPOSE SALES 15
USE A PREDICTION MODEL TO DECOMPOSE SALES Predict with the overall model Isolate each variable – Set the variable equal to zero – Predict with the reduced model – Calculate difference Scale each component to the total GET THE CODE AT: https://rxa.io/Domo 16
DEPLOYING IN DOMO 17
DUE TO ANALYSIS 18
DOMO GETS THE RIGHT INFORMATION INTO THE DECSION MAKERS HANDS 19
MARKETING MANAGER What Matters to Them: Media Performance • Optimization • Web Traffic • ROI • Sales • 20
MARKETING MANAGER What They Can Control: Budgets • Schedules • Mix • Strategy • 21
MARKETING MANAGER VIEW 22
MARKETING MANAGER VIEW 23
MARKETING MANAGER VIEW 24
MARKETING MANAGER VIEW 25
MARKETING MANAGER VIEW 26
MARKETING MANAGER VIEW 27
MARKETING MANAGER VIEW 28
PRODUCTION MANAGER What Matters to Them: Inventory • Costs • Workforce • Demand • Sales • 29
PRODUCTION MANAGER What They Can Control: Inventory • Suppliers • Production Calendar • 30
PRODUCTION MANAGER VIEW 31
PRODUCTION MANAGER VIEW 32
PRODUCTION MANAGER VIEW 33
PRODUCTION MANAGER VIEW 34
External Influences
WHY CONTROL DATA Accounts for external pressures Improves forecast Provides context 36
SIMPLE WITH DOMO 37
EXTERNAL PRESSURES Unemployment Interest rates Construction Weather Consumer Confidence 38
IMPROVES FORECAST Without Proper Control Data With Ready Signal Control Data Control data can significantly improve accuracy of models, but is often underutilized based on required effort and knowledge. 39
DOES A 60-DEGREE DAY MEAN FEWER MOTORCYCLE SALES? 40
PRODUCTION MANAGER VIEW 43
PRODUCTION MANAGER VIEW 44
EXECUTIVE TEAM What Matters to Them: Sales • Profitability • Growth • 45
EXECUTIVE TEAM What They Can Control: Strategy • Resources • Budgets • Competitive Positioning • 46
EXECUTIVE TEAM VIEW 47
EXECUTIVE TEAM VIEW 48
3 KEY TAKEAWAYS Solve Provide Domo 49
THANK YOU & join us at our virtual booth!

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