Today, many manufacturers receive a consolidated feed of retail data (e.g. Point-of-Sale) through VeriSign Retail Data Services.  This data feed represents the historical sales of products, or UPCs, through individual retail stores by day.  Digital Tempus provides powerful On Demand analytics and predicitive modeling to extract insights and create accurate forecasts from data sources, such as VeriSign.

Q: Is it as simple as VeriSign provides the historical data and Digital Tempus creates forecasts using the data?

Yes.  Once registered, users can specify VeriSign Retail Data Services as the source of historical data.  Digital Tempus can use this data feed to generate forecasts at the lowest level of granularity (e.g. store-level) or at aggregate levels of the business, such as chain-level forecasts for a manufacturer’s top customers.

Q:  What if I already have a forecasting or supply chain planning system?

Most customers that use Digital Tempus already have a forecasting system, typically from one of the large Enterprise Application or ERP companies.  Digital Tempus forecasts can be imported or integrated into these systems to provide a more accurate demand plan at lower levels of the business.  Because the system is On Demand, some users generate forecasts to compare the accuracy of their current approach to the unique modeling capabilities featured in the Digital Tempus BI Network.

For more information on how to integrate Digital Tempus forecasts with an existing Supply Chain or ERP system, please contact us and we will walk you through the simple process.

Q: What level of accuracy can I expect from the use of Digital Tempus’ forecasting engine?

Most customers experience 90%+ accuracy at detailed levels of their business.  This often represents a 15 to 50 percentage point improvement, which can mean a significant increase in service or reduction in costs.  As an On Demand business model, our success is directly tied to the performance of our analytical services.  If the service does not meet the speed and accuracy promise, then we expect you will stop using it.  Because you can be up and running on the service in 5 minutes, you will be able to measure its effectiveness without wasting months waiting for implementation or re-configuration of installed software.

Q: How can I measure the accuracy of the Digital Tempus forecast?

The Digital Tempus BI Network features a Demand Performance analysis that calculates the Mean Absolute Percent Error (MAPE) of forecast compared to actual history.  You can either wait to add history for upcoming weeks and then calculate the performance, or you can simulate the performance over historical periods.  Digital Tempus can also execute a performance test, referred to as a Demand Management Assessment, for you for a nominal fee.

Q: I already subscribe to VeriSign Retail Data Services (formerly Retail Solutions / RSI).  How can I use Digital Tempus’ service to create a forecast?

Simply register for the Digital Tempus BI Network and indicate that you are a current subscriber to VeriSign Retail Data Services during the registration process.  If you are already a registered user in the Digital Tempus BI Network, you can edit your profile to include VeriSign Retail Data Services.

Once you have indicated your interest, we will contact VeriSign to verify your subscription and key contact information.  You will receive an e-mail that describes your options for connecting Digital Tempus to your VeriSign Retail Data Service for the appropriate aggregation and scope of your business needs.

Q: I use a Directory Service connection today to connect data to Digital Tempus.  How does this change with the availability of a VeriSign Retail Data Services connection?

If you already use a Directory Service connection today, you will notice an additional option for data connectivity – VeriSign Retail Data Services.  This additional service is a subscription-based, industry-specific directory service that consolidates and normalizes data feeds from a critical mass of retailers.

This option works the same way as other Directory Service data connections within the Digital Tempus BI Network.

Q: I forecast using Customer Order data today.  What are the advantages of moving to a POS forecast?

Point-of-Sale (POS) data is the best indicator of true demand in the retail market.  Customer Order data is distorted by inventory and ordering policies that may or may not represent future practices.  By forecasting with POS data, a consumer products manufacturer is more prepared to discuss trends and the impact of promotional investment with retailers during category management or set effective parameters for replenishment at store-level.

We have helped companies configure customer-specific and channel-specific planning processes that use a variety of data streams, including POS, VMI Data Feeds, Customer Orders, and Shipments.

To learn more about how to configure demand-driven strategies in retail, register for the Digital Tempus BI Network or contact us and we’ll walk you through several examples that address your specific needs.