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Many businesses start with last year’s sales as a basis for next season’s plans. For retailers and other consumer-focused businesses, this approach is problematic. Why? Because the consumer purchasing behavior exhibited last year was influenced by the weather that occurred last year. By failing to account for this, companies unintentionally add substantial error to their business forecasts.
The weather is “baked” into last year’s sales performance and by leaving its impact uncorrected, you are essentially assuming the same weather will repeat itself this year. It rarely does. In fact, weather only repeats itself across your business about 15-20% of the time.
Learn how companies that “weatherize their business” are able to accurately measure and effectively plan for this key driver of consumer buying behavior. Join Planalytics on Thursday, April 23rd at 11 a.m. (EST) for Managing Weather’s Impact on Business: An Introduction to Business Weather Intelligence webcast.
Webcast topics include:
- Weather-Driven Demand Analytics: Identifying the complex relationships that consumers have as climate conditions change and precisely quantifying the impact on overall traffic, transactions and/or category demand.
- Weather Volatility & Planning: Avoid chasing last year’s weather with statistically-driven weather models and demand analytics, and plan from a more reliable, climate-adjusted sales baseline.
- Client Examples: Review client case study examples in the areas of forecasting, inventory management, digital marketing & advertising, retailer-supplier collaboration, etc.
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