Unexpected surges in demand hit even the most experienced retail demand forecasters. The sudden change in footfall, an influx of customers and not enough stock or staff to meet demand. PredictHQ exists so your stores are always equipped to maximize sales and minimize waste.
Demand Forecasting: Incorporating events into models for smarter forecasting.
Labor optimization: Ensuring the right number of drivers and store staff to meet demand.
Demand Forecasting: Incorporating events into models for smarter forecasting.
Merchant Services: Adding relevant demand causal factor insights to customer communications.
Amazon Alexa's "Events Near Me" feature uses PredictHQ data to inform users about local events.
Demand forecasting: Getting drivers in the right place ahead of time to improve pick-up times.
Out-of-stocks and overstocks cost retailers more than $1.1 trillion globally each year, and staff are one of the major expenses. With so much demand driven by events, retailers know they need to track impactful events near them, but it's complex and time consuming to do accurately.
Let PredictHQ track high-impact events for you. Our systems aggregate from hundreds of sources and verify half a million events worldwide each month. We then rank the events by impact so your teams and models know exactly the impact on demand in advance.
Waste less stock and ensure you don't run out of any early.
Use events to know exactly how many staff you'll need.
Distribute resources across your stores more effectively.
Go beyond seasonal trends and historical data only to understand why your demand fluctuates.
Discover which events impact your demand to reduce out-of-stocks or overstocks. Track and prepare for the impact of scheduled events like sports or unplanned events such as severe weather.
Staffing is one of the biggest costs for retail and QSR businesses so you need to get it right. Studies by MIT’s School of Management found staffing stores well can lead to a 10% increase in sales.
More accurate footfall predictions means more accurate staffing, enabling you to get the balance right every time.
Make the most of your network by indentifying each event's footprint and investing staff and stock into the stores within it.
PredictHQ's feature engineering enables your team to prioritize the events that matter. Use Radial Search to find events around each store and Local Rank™ to understand their impact. These will also help you identify when smaller events are clustered around your stores, creating significant impact.
Legion Technologies uses PredictHQ's demand intelligence to create 98% accurate retail staffing models without wasting data science team time.
Don't underestimate how much effort it takes to work with event data... Being able to rely on a company whose sole purpose is to remove the ambiguity of event data has been game-changing for us.
Read Legion’s Story
Improve your forecasting models for more accurate predictions
Maximize revenue by predicting demand
Know your demand in advance to optimize schedules
Forecast smarter to optimize inventory levels
Identify your demand catalysts for smarter analytics
Use intelligent event data in your data lake
Contact our data science experts to find out the best solutions for your business. We'll get back to you within 1 business day.
Demand Forecasting: Incorporating events into models for smarter forecasting.
Demand forecasting: Getting drivers in the right place ahead of time to improve pick-up times.
Labor optimization: Ensuring the right number of drivers and store staff to meet demand.
Amazon Alexa's "Events Near Me" feature uses PredictHQ data to inform users about local events.
Grocery & Supermarkets
Human Capital Management
Consumer Packaged Goods
QSR
Accommodation
Aviation
Transportation