Do you know what metrics can be extracted from, e.g., the warehouse data? What is hidden in the date to support your future decisions?
How to minimise a the risk in forecasting the purchase of raw material, in production capacity planning, in shipment planning... ?
Do you know when it is more accurate for you to predict the future with a "flip of the coin" and when to generate a logistics regression analysis?
The way to real improvement...
Your internal data that are hidden in databases holds many secrets. Their discovery is a great treasure, the opportunity to find a way to improve any process, procedurally as well as economically.
The need to make decisions exist, but predicting the future is impossible.
The key success in predictive modelling can be found in two factors: in the use of a suitable statistical tool and, equally importantly, in the correct interpretation of such outputs.
