Scenario Simulation for Decisions

Background

Marketing managers of a regional unit of a large multi-national chemical player traditionally struggled with making faster and timely market decisions as well as providing the right market price forecast to the salespersons for negotiations. Furthermore, marketing managers did not have access to any solutions which generated highly accurate predictions and simulated different scenarios.

Approach

Marketing managers and data scientists from the unit worked with Forecasty.AI solution and used tailored AI/ML algorithms to generate highly accurate forecasts to help salespersons with negotiation.

Impact

Forecasty.AI has transformed the way they look at business decisions. The solution not only enabled the marketing managers with critical insights to make faster & better decisions but also helped them to become more competitive in the market. Further, Forecasty.AI predicted the price trends with very high accuracy (>98%). This highly accurate forecast, along with compelling simulations, helped marketing managers to support executive decision making by providing business rationale behind such decisions.