| | December 20176CIOReviewAs we segue into the New Year, it's time once again to not rest on the laurels of this year, instead examine and review the success factors and know exactly the product demand for the next year. Though numerous measures are put in place, a substantial percentage of product launches fail to takeoff, pointing to the inadequacies in demand forecasting. Of course, there are no foolproof methods for it, considering the numerous parameters and questions linger in achieving near accurate predictions. A streamlined demand forecasting process can inevitably predict the bottlenecks that require careful planning and strategy while pinpointing the opportunities to be nurtured aggressively. The earlier science of statistical models and the guesswork associated with the art of forecasting is giving way to smarter technology. A variety of algorithms and forecasting tools replace manual forecasting as precision is the vital need of the hour. Taking a definite upper hand over traditional human configured forecasting approaches, machine learning can considerably improve forecast accuracy to augment supply chain efficiency and allay business apprehensions. In today's business scenario, multitudes of variables are intertwined with a number of interactions and correlations happening across the complex product lifecycle. Machine learning can take into consideration the varied attributes pertaining to the product and include information from the point of sale, historical sales data, and inventory details amongst others as its prowess and accuracy increases with the large datasets. In the wrap-up, decision makers contemplate on innovative technologies to forecast and plan for future procurement, production, or inventory. The question still lingers on how to invest in a reliable system, which is cost effective. Leafing through these pages will keep you abreast of the various technology trends in the landscape.Jeevan George Managing Editoreditor@cioreview.comEditorialThe Science beyond Crystal GazingCopyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.CIOReviewDECEMBER - 4 - 2017Mailing AddressCIOReview44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510.402.1463, F:510-894-8405 DECEMBER - 4 - 2017, Vol 06 SE 132 Published by ValleyMedia, Inc.To subscribe to CIOReviewVisit www.cioreview.com CIOReviewEditorial StaffSalesT:510.565.7628 Aaron PierceCarolynn WaltersJustin SmithKyle SummersRussell ThomasVishnu SanthoshEric Thomaseric@cioreview.comVisualizersIssac GeorgeJohn GouthamManaging EditorJeevan GeorgeDEMAND & FORECASTING TECH SPECIAL*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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