- Mathematics of Sales Forecasting with James Northrop
Sales forecasting cries out for mathematical support but leaves plenty of opportunity on the table. And the process of predicting the upcoming demand for goods and services, is crucial but often under-appreciated. Forecasting too-high results in inefficiencies and excessive costs; forecasting too-low results in empty shelves, long waiting times and unsatisfied demand. I’m on a mission to help our community to forecast better and to evangelize good forecasting methods - not that I know all of the answers, yet. In this presentation, I’ll start by exploring some of the mathematics used to generate sales forecasts and then the maths to measure forecast accuracy. I’ll conclude with an overview of the challenges mathematicians face in pursuing better solutions in this politically charged area. About the Speaker: James Northrop is a Demand Manager / Business Analyst with 20+ years’ experience in sales analysis and forecasting, and diverse Integrated Business Planning roles, mainly in Fast Moving Consumer Goods. He is currently a Senior Consultant / Data Scientist with the Insights and Analytics team at Infosys Consulting, working in telecommunications retail and B2B analytics. James has a Bachelor Degree in Engineering and a Master's Degree in Statistics and Operations Research.