In this 5-minute episode, we explore how brands can improve their accuracy in retail forecasting using advanced AI solutions. Drawing on his experience at Amazon and Stackline, Nick Block introduces Beacon Pro, an innovative technology combining various data sources to create precise forecasts. We discuss the drawbacks of traditional forecasting, the impact of inaccurate predictions on business performance, and the impressive results achieved with Beacon Pro's advanced analytics.

Take a product tour

• See Beacon Pro in action

Key highlights

• Current Challenges: Traditional forecasting heavily relies on historical data, resulting in inaccuracies due to evolving market conditions.  ‍
• Impact of Inaccurate Forecasts: Leads to increased out-of-stock situations, missed sales, reduced advertising opportunities, and lower market share.  ‍
• Beacon Pro's Advantage: By leveraging diverse data sources and AI, it achieves highly accurate forecasts, surpassing traditional methods.  
• ‍Proven Results: Beacon Pro has showcased a 120% accuracy boost compared to Amazon's projections and a 128% enhancement over internal brand forecasts.

‍Speakers

• Nick Block – Associate Director, Beacon Pro
• Red Russak – Director, Product Marketing

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About Stackline

On a mission to fuel the future of commerce by bringing brands and customers closer together, Stackline is the leading AI-enabled retail intelligence and activation platform for the world's most innovative brands.  Business leaders, product innovators, performance marketers, and financial firms trust Stackline as the single source of commerce truth. Fueled by proprietary neural networks and deep learning systems, Stackline's market insights, revenue metrics, behavioral data, and autonomous functionality create the actions that determine success or failure.

Founded in 2014 in Seattle, Stackline employs over 250 connected commerce professionals, creating value for 7,000 global brands.