Unifying Data Sources for Accurate Near-Term Demand Forecasting with Google Cloud
Meet the Authors
Key Takeaways
⇨ Google Cloud's "Better Together" partnership with SAP advocates for a unified approach to data sourcing.
⇨ By harmonizing SAP's internal data with external datasets from Google and third-party providers, organizations can gain an enriched understanding of demand determinants.
⇨ This contextual data enrichment of real-time weather updates, and promotional trends and insights allows organizations to discern subtle market shifts, respond promptly, and refine their predictive models accordingly.
When it comes to supply chain planning, embracing advanced technologies like generative AI holds the potential for transformative results. However, the efficacy of any AI model is intrinsically linked to the quality of the data it processes, echoing the principle, “garbage in, garbage out.” Therefore, ensuring data accuracy, completeness, and relevance is essential for reliable insights and informed decision-making.
When organizations aspire to harness data innovations, they often turn to their internal data repositories. Historical sales data, for instance, becomes the foundation for predicting future demand. Yet, a critical challenge arises: how can organizations adapt swiftly to unexpected shifts during production and delivery? The answer lies in the quality and diversity of data sources.
In the context of demand planning within SAP, organizations need to broaden their perspective beyond internal sources. While these data insights are valuable, they offer only a partial view of the complex dynamics influencing demand. Variables such as weather patterns, marketing efficacy, and external events play substantial roles in shaping consumer behavior.
Google Cloud‘s “Better Together” partnership with SAP advocates for a unified approach to data sourcing. By harmonizing SAP’s internal data with external datasets from Google and third-party providers, organizations can gain an enriched understanding of demand determinants. This contextual data enrichment of real-time weather updates, and promotional trends and insights allows organizations to discern subtle market shifts, respond promptly, and refine their predictive models accordingly.
Using Cortex Demand Sensing, the solution equips organizations with impact alerts—proactive notifications that highlight forecast anomalies, such as unexpected weather patterns and promotional discrepancies, enabling timely interventions. Integrated with Google Cloud’s advanced capabilities, including BigQuery, Vertex AI, and Looker, the solution identifies sales-driving product attributes and potential demand influencers. It features sample data and predefined analytics to accelerate the generation of actionable insights, complemented by machine learning models and dashboard templates for enhanced prediction and visualization capabilities. These functionalities empower organizations to shape demand effectively, optimizing promotions, channel management, inventory control, demand-supply ratios, and enhancing overall prediction accuracy.
