Demand forecasting is critical for smart decision-making in business. It helps businesses and governments predict likely future demand, estimate revenue and evaluate a decision’s risk and desirability.
Demand forecasting helps businesses and governments understand future demand for a service or product. This can help organisations understand future demand and revenue resulting from different price settings, different product characteristics or different markets.
For governments, our demand forecasting expertise can help policy-makers understand future funding or subsidy requirements associated with different potential policy settings or the impact on demand of making (or not making) an infrastructure investment.
Demand forecasting expertise
We can apply a range of demand forecasting techniques depending on your requirements and data availability.
- Choice modelling – We analyse consumer behaviour through stated preference and revealed preference modelling to inform your demand forecast.
- Time series analysis of historical data – We extract meaningful statistical information from points arranged in chronological order to diagnose past behaviour and predict future behaviour.
- Development and assessment of demand curves – We assess all relevant economic and non-economic factors to create a causal demand model.
- Trend analysis and seasonality – We analyse trends to determine potential seasonal impacts.
- Risk and uncertainty – We can incorporate risk and uncertainty into demand forecasts
- Demand and supply chain analysis – We can provide you with the demand forecasts to help you design an efficient and optimised supply chain.