Posted 1/29/2024, 12:00:11 PM
New Framework Combines Human and AI Expertise to Improve Demand Forecasting
- New framework helps companies combine human expertise and AI to forecast product demand more accurately
- Volatile, rapidly changing market makes demand forecasting very challenging currently
- AI tools are improving forecasts, but human input still needed to provide responsiveness and context
- Framework categorizes products based on characteristics to determine optimal forecasting approach
- Short life cycle products like fashion have little historical data, making forecasting difficult