LONDON--(BUSINESS WIRE)--Quantzig, a global data analytics and advisory firm, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of its recent engagement- Increasing Profit Margins through Demand Forecasting
The case study aligns perfectly with Quantzig’s commitment to helping its clients transform business processes using data and analytical insights. It also offers comprehensive insights into:
- The role of demand forecasting in driving positive business outcomes
- The factors affecting the retail industry in 2020
- The challenges of online retail industry in 2020
- Upcoming trends of demand forecasting and retail analytics in 2020
See what’s driving your sales and where to spend your marketing budget to maximize impact. Request a FREE proposal to know more about our demand forecasting models for the retail industry.
According to Quantzig’s demand forecasting experts, “Demand forecasting is especially important in the retail industry because it leads to lower inventory costs, quicker response to trends, and better margins.”
The advent of digitization and urbanization has transformed the lifestyle of the consumers and it has changed the way customers shop- clothing to furnitures almost everything. The grocery segment is not far behind as this sector is now adopting strategies to be a part of the ongoing digitization. Although many of the online grocery retailers have taken initiatives to drive customer centricity, they lack an analytical approach to it. The client is an online grocery retailer, looking forward to devising effective strategies to deal with the risk of wastage of perishable items. Wastage of perishable items was resulting in profit margin loss due to inaccurate demand forecasting. The client wanted to leverage Quantzig’s experience in demand forecasting and retail analytics to increase sales and improve profit margins.
Accurate demand forecasting in the retail industry is one of the most crucial tasks. Speak to our experts to learn how we can help you with our specially curated demand forecasting and retail analytics solutions for the retail industry.
Demand Forecasting: Business Outcome
1: Develop a hybrid demand forecasting model
2: Drive profit margins by reducing markdowns
3: Increase conversion rates
Are you worried about the dynamically changing market demands? Request FREE demo to know how our demand forecasting solution can help your business.
Demand forecasting is a part of predictive analytics that leverages data to predict customer demand. These actionable insights help online grocery retailers to make informed decisions about product planning and inventory management. In the current situation, demand forecasting is a capability that most online grocery retailers need, but a handful possess and a very few of them actually harness this capability to enhance customer relationship and profit margins.
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