Case Study
$100B+ technology company forecasts hardware sales with Ikigai
One of the world's largest technology companies uses Ikigai's core Demand Forecasting solution and New Product Introduction module to model demand across their hardware portfolio
Customer overview
$100B+
annual revenue
15+
countries of operation
Business challenge
Tech Co. wanted to improve their in-house efforts to do demand planning
Tech Co. had a top-notch team of internal data scientists, but they were still looking for a third party demand planning solution that would help them make better business decisions
In particular, Tech Co. was looking for product that would to help them do three things:
- Improve the accuracy of their demand forecasts to enable better planning
- Forecast demand for new SKUs for which they had no historical sales data
- Incorporate external event data (e.g., holidays, seasonality) into their forecasts
Ikigai’s solution
Core Demand Forecasting solution
- Created highly accurate demand forecasts for Tech Co.’s products at a granular level, including region, product category, and SKU
- Enabled sales projections up to 12 months into the future, with transparent error rates available to increase trust from stakeholders
- Incorporated seasonality, holidays, and promotions into forecasts to uncover key drivers of demand
New Product Introduction module
- Implementing solution to enable demand forecasting for new products by modeling similarity between new products and existing products in Tech Co.’s portfolio
- Designing demand forecasts to be updatable upon launch of new products to allow for adjustments to forecasts pending receipt of real-world sales data
Benefits of Ikigai
- Probabilistic modeling results in highly accurate, decision-useful forecasts
- New Product Introduction module enables demand forecasts for SKUs without historical sales data using Ikigai’s patented technology
- Explainable output combines best of AI & human insight
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