Advanced analytics are a crucial means to create an efficient planning of resources – the use of predictive and forecasting models can greatly improve the value of the available data and unleash great business opportunities.
Zanichelli, a leading italian publisher who is particularly present and successful in middle and higher education, has come forward with the business need of improving the accuracy of the sales forecasts for their schoolbooks, encompassing both books with a previous history of sales as well as brand new books that have no past data on which to base the forecasts.
Therefore, one of the keys to success was the use of traditional statistical models as well as more innovative and creative models to treat the volatile forecasts for new books.
Analytics Network has been chosen as Zanichelli’s premier partner in predictive analytics, leveraging both its know-how and its ability to deploy specific analytical solutions, as well as a thorough understanding of the business needs and processes typical of the market.
By applying the Analytics Network approach, Zanichelli was able to achieve a list of non-trivial goals:
- A sensible improvement in the accuracy rate of its sales figures over existing forecasts;
- The ability to anticipate the printing and distribution processes, as well as sales planning;
- A reduction in time spent by its own data analysis team to produce forecasts;
- Real-time updates of the forecasts as well as daily monitoring of production.