"Intelligent Forecasting is quickly becoming a top priority for executives, and we are thrilled that the Total Economic Impact™ study from Forrester confirms that it is having a major impact on improving business performance."
SUNNYVALE, Calif. (PRWEB) December 07, 2020
Prevedere, the leader in external data and predictive analytics software for intelligent forecasting, today announced the results of a commissioned Total Economic Impact™ (TEI) study, conducted by Forrester Consulting. Based on data gathered from a Prevedere customer, the study revealed how Intelligent Forecasting improved forecasting and accurately anticipated international shifts, saving the company millions of dollars.
“Leading companies are adopting Intelligent Forecasting at astonishing rates, and we have helped many organizations leverage external data and predictive analytics to improve forward-looking projections,” said Rich Wagner, CEO of Prevedere. “Intelligent Forecasting is quickly becoming a top priority for executives, and we are thrilled that the Total Economic Impact™ study from Forrester confirms that it is having a major impact on improving business performance.”
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed a leading chemical manufacturer with experience using Intelligent Forecasting. Over a three-year period, the organization experienced the following benefits:
- 3-Year ROI of 345%
- Improved forecast accuracy reduced inventory write-off
- Improved forecast accuracy avoided costs of transporting raw material
- Reduced impact of exposure to international trade dynamics
- Total benefits of $3 million over three years
“Our challenge is that production and inventory are only as strong as our sales input, which doesn’t provide good visibility beyond three months. Now, with Prevedere, we are more accurate to the executive leadership team and our plant sites, and [they have] a more accurate sense of what production is coming their way. It’s not too much and not too little,” said a Vice President of Operations regarding Prevedere.
Download the Total Economic Impact™ of Prevedere Intelligent Forecasting to learn more.
A Forrester Consulting Total Economic Impact™ Study Commissioned By Prevedere, December 2020.
About Total Economic Impact™ of Prevedere Intelligent Forecasting Study
Prevedere commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) that enterprises may realize by utilizing Intelligent Forecasting. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of implementing the Intelligent Forecasting approach within their organizations.
Prevedere is a predictive analytics software company that delivers insights into future business outcomes based on economic trends. Our predictive economic intelligence offering helps executives see what lies ahead for their business and solve for upcoming risks and opportunities. Our SaaS solutions apply the power of machine learning and predictive modeling to millions of indicators of global economic and consumer activity. Prevedere customers include Fortune 500 industry leaders in retail, manufacturing, and consumer packaged goods. To learn more, visit http://www.prevedere.com and follow @Prevedere on Twitter.