Novobi Demand Forecasting
Data Science delivers accurate forecasts for thousands of products
Artificial Intelligence for your business
Novobi’s Demand Forecasting Engine streamlines the time consuming tasks of data preprocessing and statistical analysis, delivering continuous improvement and adaptation to changing customer demand.
Leverage the power of data science in your business quickly and easily! Our demand forecasting engine helps you make the best decisions for your inventory in an easy-to-navigate platform.
Analyze different inventory types with variable characteristics (such as seasonality or irregular demand) using a variety of forecasting methods.
Classify products using "demand type" as a unique attribute to help create historical data sets for future analysis.
Variable Characteristic Models
Handle different inventory types with variable characteristics (seasonal or irregular demand) using a variety of forecasting methods:
Triple exponential smoothing
ARIMA with seasonality
Demand Type Classification
Products in each warehouse are classified based on their demand types and characteristics of their historical demand.
Demand is classified into one of four unique types:
Given the precomputed demand type of each product, the forecast engine selects the appropriate forecasting models. This is done automatically to ensure you don't need to manually analyze the best forecasting method to optimize your results.