Who uses Forecast Pro

For most users, Forecast Pro’s primary function is to forecast demand. Many organizations have dedicated staff responsible for generating and managing the demand forecast and despite having a portfolio of tools at their disposal, Forecast Pro often serves at the core of their arsenals. They use the software for improving forecast accuracy, making forecasting processes more efficient and supporting their organizations’ S&OP processes.

For many organizations, forecasting demand often means forecasting sales. In some cases, salespeople collaborate on the forecasts, playing a supporting role to the demand planner. In other cases, the forecasting function primarily resides in the sales department, which means that Sales is responsible for generating and managing the forecast themselves. Since the primary role for salespeople is to sell, they turn to Forecast Pro to automate and simplify large portions of the forecast process allowing them to focus on sales.

Forecast Pro’s statistical engine combined with its easy-to-use interface and automatic model selection makes its proven methodologies accessible to users of all skill levels. For seasoned analysts, Forecast Pro also provides fast and powerful ways to build and manipulate time series and multivariate regression models. By leveraging the software’s advanced diagnostic tools, they can focus their efforts on analyzing the models while leaving the heavy lifting to Forecast Pro.

For manufacturers, the demand forecast often drives production scheduling, so forecasting may fall onto the master scheduler’s plate. Forecast Pro reduces the time spent on forecasting, enabling master schedulers to focus on production scheduling tasks.

Lean inventory starts with a good forecast. Even if determining safety stocks, reorder points and/or min/max levels are the end goals, demand forecasts are required to accurately derive those quantities in the first place. To support this, Forecast Pro even has safety stock and reorder point functionality built directly into the software.

You can’t cut a purchase order without knowing the quantity you need to order! Forecast Pro is often the first step before purchasing can turn those projections into action.

Forecast Pro isn’t a black box—not only can it build models automatically, it also allows low-level manipulation of the forecast models and provides reports on a large number of within-sample and out-of-sample diagnostics, including R-Square, MAPE, MAD, and dozens of others. Since the software includes these comprehensive features coupled with proven methodology, it is often used as a teaching tool for aspiring forecasters and supply chain professionals. Academic institutions are eligible for significant discounts on Forecast Pro licenses, including special pricing for entire classrooms. Contact us for more details.