Machine learning is a powerful technology that is being increasingly used to improve data analysis in a wide variety of areas. At ToolsGroup, we have focused on employing our innovative machine learning engine specifically for supply chain planning, and especially to improve demand forecasting. Here are a few areas where this technology can be found embedded in our products:
- Trade promotion and media event forecasting
- Extreme and complex seasonality forecasting
- New product introduction (NPI) forecasting – including launch profiles and ongoing baseline demand
- Using social listening (social media) to improve NPI and promotion forecasting
- Incorporating climate and weather data into demand forecasting
Within our machine learning engine we incorporate deep learning technology that allows our models to “learn” from existing data and accurately identify future demand trends. It leverages the knowledge, experience, and skills of planners and other experts in a highly efficient and effective way, working like an intelligent assistant that helps them do their normal jobs much more effectively. It produces clear business logic that can be dynamically adapted and easily aligned with business policies and procedures.