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A lot of focus has been placed on advanced and predictive analytics, and rightfully so. I have written many posts and have spoken publically on the merits of advanced analytics for several years now.

 

What I find disorienting and misleading are marketers harping on how important it is to adopt advanced analytics right now. The thing that they just don’t get (or maybe they don’t want to get?) is that an organization will need to transcend a series of analytical maturity levels before they can truly capitalize on the benefits of advanced and predictive analytics.


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Improved forecast accuracy leads to many downstream improvements in operations and ultimately, on the balance sheet. That is why Gartner, Inc., a highly respected information technology research and advisory firm, puts forecast accuracy at the top of its pyramid of supply chain metrics. In a study published in February 2012, Gartner stated that a 6% forecast improvement could improve the perfect order by 10% and deliver a 10-15% reduction in unnecessary inventory. These are very impressive numbers and a very good reason to work towards improving forecast accuracy.


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