LONDON--(BUSINESS WIRE)--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its latest success story that explains how they helped an online retail business to drive profits using advanced demand forecasting models.
This success story offers comprehensive insights into how Quantzig’s experts helped a US-based online grocery store to build a hybrid demand forecasting model to predict online orders. Leveraging merchandising analytics solutions, the experts were able to help the client to drive profit margins.
According to the merchandising analytics experts at Quantzig, “For any demand forecasting model to succeed, online retailers need to focus more on merchandising analytics, which is the core aspect of demand forecasting solutions.”
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The increasing impact of digitalization is changing the way of shopping across the globe. The online grocery segment is also witnessing digitalization and is adopting strategies to be a part of this digitalization process. With online grocery businesses catching up with consumers buying patterns, businesses in this sector face stiff competition and a decline in margins. Facing similar challenges, a leading retailer approached Quantzig looking to driving improvements in profits through accurate demand forecasting. They wanted to leverage analytical insights to forecast online sales and drive profit margin while focusing on consumer demand. To tackle this challenge Quantzig’s experts came up with advanced merchandising analytics solutions to devise a demand forecasting strategy for the client.
Contact us to learn how merchandising analytics can help you devise effective demand forecasting strategies to increase sales.
The demand forecasting solutions offered detailed insights into the online retail industry, which helped the client to increase sales.
Quantzig's demand forecasting solutions provided benefits that helped the client to:
- Improve sales and drive profits by 35%
- Lower markdowns
- To know more about our merchandising analytics solutions, request a FREE demo
This demand forecasting engagement provided predictive insights on:
- Building a hybrid demand forecasting model
- Becoming more customer-centric through tailored services
- To read more about the scope of our engagement, request more information
Recent Success Stories:
- How Merchandising Analytics Helped a Wine and Spirits Manufacturer to Analyze Product Demand Across Segments
- Rethinking the Pharma Logistics Supply Chain with Advanced Supply Chain Network Optimization Solutions
- Analyzing Game-Changing Opportunities in UK’s Drone Market with Quantzig’s Big Data Analytics Solutions
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal