Abstract:
Methods and system for enhancing and monitoring demand forecasting through advanced analytics is described. The advanced analytics demand forecasting system and techniques leverage multivariate data, thereby enhancing modeling through the use of data related to a plethora of aspects of the supply chain. Multivariate data can include market data, econometric data, customer data, lifecycle analytics, and an expanded range of historical data (e.g., 15 years). Multivariate data can be fed into an advanced analytics hyper parameter model, which combines time series, as well as machine learning and deep learning algorithms to improve the accuracy of the demand forecast. In some cases, the advanced analytics hyper parameter model is a stacking ensemble model, which combines the predictions of several other models using a stacking ensemble technique, thereby improving the modeled predictions. Accordingly, advanced analytics demand forecasting techniques can provide improved accuracy, and advancements over previous univariate approaches.