Supply chain insights company FusionOps has announced that users of its cloud-based analytics platform will now have access to predictive analytics.
The FusionOps platform has expanded to include statistical models and machine learning techniques for predictive analytics.
“Predictive is a natural extension of our platform,” said Gary Meyers, CEO of FusionOps, in a press release. Use of demand forecasting can help with planning as well as a statistical check on market and sales-based forecasts, he said, “without the time-consuming processes of curating data, developing models, and visualizing the results.” The platform can create “accurate forecasts down to the SKU [stockeeping unit] level,” he said.
FusionOps stated that the insights provided by predictive analytics, such as demand forecasting, will help companies succeed with all components of the supply-chain process including inventory, risk, and maintenance requirements. The company promises fast predictions, 10 different statistical models, and the flexibility to include many types of external data including weather forecasts, Google analytics and domain-specific data. The entire end-to-end process is automated in a single application for convenience and cost savings.
In September, FusionOps released a survey in which 69 percent of Star Wars fans believe that retailers will not be able to keep pace with merchandise orders — such as action figures and lightsabers — in advance of the December release of “The Force Awakens.”
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