Forecasting is the process of estimating future demand in order to help make better-informed business decisions today. Across consumer goods brands, teams use forecasts to more intelligently allocate resources, optimize inventory, and maximize revenue.

However, companies vary widely in their forecast accuracy. According to the Institute of Business Forecasting & Planning (IBF), the retail industry averages a 30% error rate when forecasting products one month in advance, and “Best-in-Class Forecast Errors” is even a term in the IBF glossary.

In celebration of Valentine’s Day, today we’re focusing on the importance of evaluating usability when selecting a technology partner. In other words, how to best determine whether the intended users of a new tool will fall in love with it.

While this romantic vision may seem out of place in a business environment, listening to the needs of end users can save you time and money that would have otherwise been wasted on trial and error.

Askuity customers might be feeling a little adrift right now. Support for Askuity is ending unless you only want data from Home Depot, and that means you need to make some tough decisions about what your retail analytics solution will be going forward.

The insights provided by the best retail analytics companies go beyond simple reporting to deliver true predictive power, helping you proactively identify and address top challenges like out-of-stock and overstock situations. Trying to run your business without them would be like using a paper map instead of taking advantage of GPS technology with real-time traffic updates.

Out-of-stocks is an age-old problem that continues to confound the consumer goods and retail industry. It translates to billions of dollars in lost sales each year, as well as being a drain on time and resources and dealing a blow to consumer brand loyalty.

In the past month, we’ve seen retailers rolling out a variety of in-store innovations to try to address this issue, from drones to robots to iPads. But how do these measure up against traditional solutions, and how can brand manufacturers benefit?

Alloy recently had the pleasure of joining the Slalom Digital Innovation in Supply Chain Summit, January 23-24 in Seattle. The brainchild of Harshad Kanvinde at Slalom Consulting and Neil Ackerman at Johnson & Johnson, the roundtable was an intimate gathering of supply chain leaders that offered great opportunities to meet and learn about what’s top of mind for enterprises like Procter & Gamble, Mars, The Pokemon Company, and The Coca-Cola Company.

We recently shared highlights from a study by IDC that spotlights how brands must become more demand-driven if they hope to prosper in today’s consumer goods market. Now more than ever, consumers drive the industry, making it critical to get closer to your end consumers and understand their preferences. At the same time, new digital-native market entrants are continually coming onto the scene, disrupting industries ranging from mattresses to eyeglasses. Amidst all this change, where is the market headed, and how can consumer brands make sure they don’t get left behind?