Swiss Chemical Company

Developing a state-of-the-art forecasting approach by combining multiple forecasting models to achieve a 97-98% accuracy, leading to monetary and time savings

Challenge

• Needed to accurately forecast sales, raw materials supply and market demand for finished goods
• Existing forecasting methods were labour-intensive and inconsistent
• Models failing to provide accurate, reliable forecasts

Solution

• Created powerful new methods to generate and combine forecasting models
• Developed modern, state-of-the-art forecasting algorithm
• Delivered an automated solution which aggregated data sources and combined forecasting models together to attain higher accuracy

Business Impact

• Reached 97-98% in forecasting accuracy through combination of forecasting model, higher than any single model on its own
• Enabled an optimisation of operations, resulting in monetary and time savings
• Decreased risk of manual errors through forecasting automation