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Episode 29: Predictive Forecasting: Under the Covers
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Episode 29: Predictive Forecasting: Under the Covers
Guest: Scott Mutchler
If you have ever worried that Predictive Forecasting as an application of Artificial Intelligence (AI) and Machine Learning is more hype than reality, then this podcast episode is for you! There is a lot of superficial information being put out to sell us all a gleaming vision of an AI powered future, leaving us with a sense that magic must be involved!
In this episode, QueBIT’s Chief Data Scientist Scott Mutchler confirms that it is not magic, and then goes on to explain – in terms that you do NOT need to be a data scientist to understand – how it all comes together. Among other things, we talk about how there are mathematical techniques to separate effects like seasonality from the underlying trend, and how sales of low velocity items can be modeled, even when there is a shortage of data. From there we move on to talk about the power of applying predictive technology to detailed bottom-up forecasting and the opportunity to break down silos and make more time for strategic analysis by delivering on the promise of a shared forecast for finance and operations.
If nothing else, this webinar will leave you with a better understanding of how predictive forecasting works, and position you (1) to be an educated buyer, and (2) to build a confident business case for embracing it!
This podcast is sponsored by QueBIT experts in analytics.
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