Demand Forecasting
Quickly achieve a minimum 10% improvement in Forecast Accuracy
The COVID-19 pandemic has taken an unprecedented toll to businesses worldwide. We’ve seen first hand how a major health warning can hinder the economy and cause drastic shifts in demand. COVD-19 recovery teams have had to reassess their 2020 forecasts and pivot their demand planning efforts in order to simply stay afloat.
With this, businesses must think about tracking notifiable diseases now so they’re better equipped in the future. Monitoring diseases and identifying early warnings of future outbreaks can help businesses anticipate the changes in consumer behavior and make smarter decisions around pricing, labor, and supply chain operations.
Demand intelligence provides invaluable visibility into future demand anomalies that can drastically impact business projections. With this insight, teams can make business decisions before disasters and outbreaks hit.
Quickly achieve a minimum 10% improvement in Forecast Accuracy
Use event data to enable your AI models with contextual real-world data
Get value from demand intelligence by being able to upload locations, search and identify relevant events efficiently
Identify demand catalysts to improve supply chain efforts and inventory levels
Unlock better targeting and timing for your ad campaigns with privacy-safe event data
Know impactful events in advance and adjust prices sooner
Reduce labor costs and improve profitability by scheduling around events
Visualize event data through BI tools like Tableau to better understand impact
Ensure your network of delivery drivers is prepared based on demand from events
With hundreds of thousands events postponed worldwide, teams must have a programmatic way to track pandemic updates and track when these events will come back. With PredictHQ’s event category Health Warnings, teams can now track pandemic and epidemic warnings. Each event in this category is verified in our data processing pipeline and then ranked by predicted impact. It’s designed to be used with our Community event category so teams can drill down into the specifics of a pandemic alert and track the following:
Lock down commencements
Shelter-in-place announcements
Restriction updates
Get instant event notifications with PredictHQ Notifications. With the platform, teams can set up customized queries that will alert members when health warning changes occur or new health warnings hit our system.
This helps business across all industries better prepare for the shifts in demand that will occur. For example, a fast food service can reduce staffing and inventory in preparation for a demand drop off. They can also proactively think about food delivery as an alternative acquisition channel.
Outside of pandemics, it’s incredibly important for businesses to track an array of disease alerts and monitor health changes. Influenza outbreaks and measles flare-ups are other examples of health warnings that can have a major impact on a business.
With our health warning category, you can track biological hazards such as diseases and insect infestations as well as food poisoning warnings. When new alerts of outbreaks occurs, you can receive instant notifications delivered right to your inbox and quickly adjust demand forecasts to reflect anticipated shifts in consumer behavior.
The value customers can receive from instant event alerts can be invaluable. Knowing about a potential outbreak just a few hours in advance could save a business millions in operational spend. With Notifications, teams don't have to worry about missing any health warning event that impacts their business.
Don't underestimate how much effort it takes to work with event data... Being able to rely on a company whose sole purpose is to remove the ambiguity of event data has been game-changing for us.
Having historical data on how previous health issues have impacted business demand can help teams make strategic decisions when new health warnings are announced. PredictHQ is a market leader in demand intelligence and has a large database of historical data that you can use to train your models to better predict the impact of notifiable disease alerts and disease outbreaks.
By correlating historical transactional data with previous issues such as epidemic warnings or lockdown restrictions, you can know exactly how that impacts your bottom line. This insight means your team can develop data-driven plans to respond to new notifiable diseases, pandemic alerts, and other health warnings.
Knowing the impact of demand causal factors like events will transform your business. The American Society of Hematology has a $45M estimated economic impact — and that's only one event in one city.
Contact our data science experts to find out the best solutions for your business. We'll get back to you within 1 business day.