Evaluating demand forecasting analytics solutions can be a confusing and complex process. However, knowing the right questions to ask can greatly reduce the risk of selecting the wrong solution provider.
Over the last decade, advanced analytics has been at or near the top of the list of priorities for many executives and information technology professionals throughout the world. Organizations have made major investments in database technologies including CRM, ERP and other transactional systems that run the operations of a department, division and subsidiaries. As a result, most organizations have access to valuable data and are looking for ways to leverage demand forecasting analytics for a competitive advantage. Transforming raw data into meaningful and useful information enables more effective strategic, tactical, operational insights and decision-making.
A recent survey revealed that organizations that place greater emphasis on the solution provider evaluation process tend to have a more successful project. Not surprisingly, these organizations also consistently outperform their competitors in the marketplace. The true value of a solution for demand forecasting analytics lies in the insight it provides on business operations and the opportunities it creates for better decision making. Understanding the business requirements for an advanced analytics project is crucial to the selection strategy that aims to align with the overall business objectives while addressing the needs of business users. Failure to integrate business requirements into the selection process can result in substantial cost overruns or, even worse, project failure.
With hundreds of advanced analytics tools available in the market, a sound selection strategy that integrates business requirements accurately is more important than ever. Download this white paper, Five Questions to Ask before Selecting an Advanced Analytics Solution Provider, to help you on your journey.