Scenario-based Forecasting

Nousot's Scenario-based Forecasting (SBF) makes best-in-class forecasting methodologies accessible to a broader range of business analysts in their most familiar analytics platform as well as interactive web dashboard. With only a few clicks, SBF can generate state-of-art forecasts, which is enhanced with valuable business insights brought through domain knowledge of it’s user.

An account is required before getting started. We offer a free tier of SBF with no purchase necessary. 10 forecasts per month with a subset of the full feature suite. Go to https://forecasting.nousot.com/join to see a comparison and decide which tier suites your forecasting needs.

Human-in-the-loop:

SBF leverages a new paradigm in machine learning and advanced analytics which is known as human-in-the-loop. Human-in-the-loop aims to achieve what neither a human being nor a machine can achieve on their own. When a machine isn’t able to solve a problem, humans need to step in and intervene.

Utilize the built-in scenario creation tool that makes new scenario generation fast and effective. From market research to business instinct and even word of mouth, there is tons of insight that an analyst with good domain knowledge can bring to the table.

Ease of use:

Having data ready in an Excel environment is enough to kick-off SBF. Users can easily start using this Excel add-in doing their everyday work then move over to the web platform for a more interactive look. The experience is seamless and there is no need to duplicate work across environments. Visit https://forecasting.nousot.com/forecasting to see your forecasts in a new way.

All new generated data and visualizations are being saved in the same environment for future reference. It reduces forecast time from days to hours.

Accuracy & reliability:

The current version of SBF employs Facebook's open-source Prophet as its forecasting engine, which is the most reliable open-source forecasting platform in the field. The platform is designed to deliver the most optimized result for a given time series. It also provides enough tuning knobs for advanced users to make fine adjustments if required.

Each forecast will come back with the components that Prophet uses to build up the model. This approach lets users understand exactly how their forecast is made. See the trend, then the additions from seasonality, regressors, and holidays at each point in time.