Wipro’s implementation of Amazon Forecast services can improve forecast accuracy with automated, scalable and cost-effective solutions. The embedded hierarchical reconciliation makes forecasts coherent, produces more accurate reconciliation and provides required data points for better decision-making.
This solution, coupled with unique accelerators and resources from a dedicated Wipro AWS AI Lab, enables enterprises to get their forecasting programs into production faster and create reusable artifacts. It’s also easily replicated across other divisions or business units where forecasting is required.
Enterprise-Ready Forecasting Solution
Wipro’s demand-forecasting solution has already been deployed successfully around the world. For a global food supplier, the solution included Amazon Forecast services and leveraged historical sales/transactional and holiday data to deliver a 20% overall improvement in forecasting accuracy and a 30-40% reduction in manual effort and adjustments.
In the retail sector, a leading enterprise needed to improve sales and demand forecasting. Wipro implemented a forecast solution with integrated hierarchical reconciliation leveraging Amazon Forecast services, DeepAR and FbProphet algorithms to achieve substantial cost savings on licenses for proprietary forecasting tools. In addition, using the Amazon Forecast pay-per-usage costing model, the company saw a 50-60% reduction in execution time in weekly forecasting pipeline execution.
Engage with us for a QuickWin forecasting PoC/pilot for scalable use cases like demand forecasting, inventory and resource planning. Please contact Think.AI.email@example.com for more details.