How does it work?
AI is a methodology that can enhance your predictive analytics, forecasting, and planning. These enable you to create more accurate forecasts and automate manual tasks. The system does this by identifying patterns using your historical forecasts, augmenting this with any prior knowledge or assumptions you have including external data sources (e.g. weather predictions or other factors relevant to your organization) that might have an impact on your bottom line. Once trained, the system can generate forecast suggestions on its own. And over time, the system continues to learn, so the forecast accuracy improves.
By doing some of the work for your teams (especially the low-value tasks that can’t be automated by conventional means), removing the burden of quality assurance, and guaranteeing a high-quality input for your systems, AI can help you do more high value work, and do it faster.