A division of a major health science company recently improved internally-developed forecasts after retesting its historical data using Vanguard Software’s forecasting and planning platform.
The U.S.-based company run and analyzes demand forecasts on a monthly basis for both its pharmaceutical products and its diagnostic lab-testing services. As a result of the finding, it was able to right-size projections for 2016 by roughly 10 percent using Vanguard Software.
Without having double-checked assumptions in Vanguard, the company would have overestimated demand and set less realistic sales and revenue targets. That’s important because companies of all types rely on accurate targets to determine product promotions, compensation incentives, the timing of capital investments, and more.
“Vanguard helped us improve our forecast accuracy,” said a commercial analytics manager who asked not to be named. “That gave us a more realistic view of the future and a stronger understanding of the sales and marketing levers that drive our business.”
The same manager said the company is committed to the Vanguard Forecast Server platform and looks forward to a continued value-add.