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Business Forecasting
Hybrid Forecasting

Case study for pharmaceutical healthcare professionals COVID-19 sales engagement, business forecasting Aspect Ratio
Case study for pharmaceutical healthcare professionals COVID-19 sales engagement, business forecasting Aspect Ratio
Traditional forecasting cannot accurately depict the impact on variables post the COVID-19 pandemic

The

Objective

Traditional forecasting was rendered incomplete with the advent of COVID-19. Teams at Aspect Ratio were tasked with developing forecasting models that were more inclusive of the effects of the COVID-19 pandemic. 

 

Our

Approach

Conventional Forecasting Models

Trends inherent in past data are used to estimate future values. 

Traditional and conventional forecasting models prior to the COVID-19 pandemic

Trend Break

COVID-19 led to a ‘trend break’ – making pre-COVID data not directly usable for forecasts. 

Trend break renders data available from pre-COVID-19 pandemic periods unusable and inaccurate

Hybrid Approach

A hybrid approach was formulated that made use of external data such as those extracted from sources like Google Trends and COVID-19 case counts. 

Hybrid business forecasting models that uses data from external sources such as Google Trends and COVID-19 case counts to provide more accurate forecasts

Better Forecasts

Using Predictive Modelling, we were able to assess the impact of COVID-19 and account for it in the forecasts.

Predictive modelling allows for more accurate forecasts, Business Forecasting Aspect Ratio

Conventional Forecasting Models

Trends inherent in past data are used to estimate future values. 

Traditional and conventional forecasting models prior to the COVID-19 pandemic
Traditional and conventional forecasting models prior to the COVID-19 pandemic

Trend Break

COVID-19 led to a ‘trend break’ – making pre-COVID data not directly usable for forecasts. 

Trend break renders data available from pre-COVID-19 pandemic periods unusable and inaccurate
Trend break renders data available from pre-COVID-19 pandemic periods unusable and inaccurate

Hybrid Approach

A hybrid approach was formulated that made use of external data such like extracted from sources such as Google Trends and COVID-19 case counts.

Hybrid business forecasting models that uses data from external sources such as Google Trends and COVID-19 case counts to provide more accurate forecasts
Hybrid business forecasting models that uses data from external sources such as Google Trends and COVID-19 case counts to provide more accurate forecasts

Better Forecasts

Using Predictive Modelling, we were able to assess the impact of COVID-19 and account for it in the forecasts.

Predictive modelling allows for more accurate forecasts, Business Forecasting Aspect Ratio
Predictive modelling allows for more accurate forecasts, Business Forecasting Aspect Ratio

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