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Statistical demand forecasting models

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COWI has developed statistical demand forecasting models for a large Danish industrial enterprise.
Accurate demand forecasts are essential when the economic environment change and critical for making the right business decisions.

COWI has had a close collaboration with the enterprise for more than a year, and during this period we developed statistical demand models for a number of products for four Scandinavian countries.

The models are updated every quarter and are used in e.g. the enterprise's budgeting process.

Systematic and neutral forecasts Statistical demand models are used by companies because they provide systematic and neutral forecasts.

This type of model takes into consideration the statistical relations between one or more leading indicators and sales figures.

Understanding the market In order to make accurate forecasts a thorough understanding of the market is necessary, and every company is an expert in its own market.

COWI carried out interviews with the heads of the sales divisions in each country to ensure that the forecasts take the different market environments into consideration.

Discretion guaranteed Information about sales and forecasts is very sensitive. Therefore, discretion is pivotal.

COWI understands the concerns that may be connected to outsourcing such an important part of a company's business, and will not disclose any sensitive information obtained.

COWI has a team of economists who are specially trained in statistical forecast analyses.

LAST UPDATED: 06.12.2017