|
Using
our advanced analytical software tool, Profit Scout,
to forecast your sales is our passion. In fact, we spend a
large amount of time on research and development to make sure
that Profit Scout uses economic trends (such as
unemployment, leading economic indicators, consumer price
indexes, etc.) in the most analytically sound manner as
possible across a wide range of retailers.
Click
on a retailer to the right to see what Profit Scout
predicted their sales to be and what sales really were. Also,
look on each page to view ongoing future sales forecasted
for each retailer.
|
How Profit Scout Works
- Profit
Scout models economic data by determing the underlying
relationships between your sales and lagged
economic data. The economic data is lagged
based on your specifications from 1 month up to 12
months. This allows you to control the length of time
you would like to forecast out up to 1 year from now.
- Once
the lagging is determined, Profit Scout mines the
economic data to develop equations which determine
future sales -- this includes detecting the underlying
seasonality. For instance, a 12 month lag would show
the relationship between economic data and sales 12
months away -- thus allowing you to use today's economic
data to forecast sales 12 months from now. This same
process can be done for any lag period from 1 to 12
months.
- This
economic data includes monthly historical time series
data including the gross domestic product, unemployment
rates, consumer price indexes, housing starts, interest
rates, stock prices, etc.
|
|
