Demand forecasting is one of the most challenging fields of predictive analytics. This is a reality that is industry agnostic – true across finance, health care, and consumer goods and retail. This will not come as a surprise to business decision makers and data scientists working hard to leverage that information. While each industry has its own challenges – retail demand may be far more sensitive to economic pressures, for example, while health care is adapting to different delivery models and regulatory requirements – there are common pitfalls. Fortunately, there are common strategies to optimize the benefits of demand forecasting.
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