Fully automated program includes an 8-week daily forecast for up to 100 locations and 10 drivers
Logile, Inc., the leading retail labor planning, workforce management, inventory management and store execution provider, announced the availability of its new complimentary Forecasting Pilot program available to all retailers. Retailers can sign up and use the industry’s most powerful, accurate AI and ML-driven metric forecasting through a fully automated self-serve platform.
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Attaining the best possible forecasting accuracy is critical to retail decision making and operational efficiency in today’s uncertain and ever-changing environment. Designed to provide an easy, fast and low-risk way to sample the power of Logile’s forecasting platform, pilot participants can opt for 8 weeks of daily forecasts for up to 100 locations and 10 metrics. Results will be published to the participants within 7 days after submitting their parameters and historical data.
In past competitive evaluations, Logile’s forecasting has outperformed all our competition. Using the latest artificial intelligence and machine learning-based algorithms, Logile generates forecasts at each individual metric level averaging above 97+ percent daily accuracy—the best in industry. The potential benefits are compelling: For WFM, every 1 percent improved accuracy can yield up to 50 percent reduction in overtime, half a percent decreased labor costs, 6 percent improved conversion and 12 percent improved customer satisfaction. For Ordering, an accurate forecast leads to stock on shelf at the right time while avoiding either unnecessary over-stocking, or even worse, an out-of-stock situation.
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Highlights of our platform:
- Completely integrated with weather and climatology to provide the best opportunity to support seasonality and weather-bound shopping behavior
- Full Forecasting solution drills down to the SKU and UPC level with forecasting support at sub-category, category and volume group level
- Continuous reforecasting and self-learning that keeps improving over time translate into forecast accuracy improvements of 15-20 percent for the average business
- Provides further deep-down understanding at each individual layer and what that layer contributes to the forecast (e.g., weather, promotion, special events, holidays, day of the week, etc.)
“Now more than ever, the ability to accurately forecast demand and labor requirements is critical to retailers’ success navigating economic and market volatility, controlling labor costs and preserving service levels. We welcome you to experience the accuracy with your own data—and with complete privacy, access control and security—the power of the Logile Forecasting Platform as the most accurate and intelligent forecasting platform available today in the industry. We are excited to provide this complimentary Forecasting Pilot program with no obligation,” said Purna Mishra, Logile Founder and CEO. “We are confident retailers will be intrigued and delighted when they compare our automated forecast results with their actuals and legacy forecasts. Our mission is to help retailers thrive with the best available tools, and this pilot should provide a window into what’s possible. Our enterprise forecasting solution introduces many additional features that bring even more precision to the game.”
