Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the data industry. This time, you get to discover 5 hand-picked startups developing forecasts for consumer industries.
Global Startup Heat Map highlights 5 Top Forecast Solutions for Consumer Industries out of 731
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 731 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 data startups developing forecast for consumer industries that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 726 forecast solutions for consumer industries, get in touch.
Mate Labs offer Supply Chain Demand & Crisis Forecasting
Understanding customer trends are crucial for industries such as automotive and fast-moving consumer goods (FMCG), to design and optimize their products or processes. For example, supply chain demand forecasting is an effective solution to understand and predict customer demands. That is why startups use advanced analytics and AI to derive meaningful insights, improve production efficiency, and reduce costs.
Mate Labs is an Indian startup that provides consumer-facing enterprises with accurate demand forecasting using their proprietary AI technology. The startup offers supply chain planning and crisis forecasting with multi-channel forecasting models. They provide a weekly and monthly training frequency to optimize forecasting for market trends, allowing manufacturers to prepare for volatile conditions without inventory and opportunity loss.
Pecan AI develops a No-Code ML Platform for Churn Forecasting
Losing customers impacts the overall performance of a company. While the churn rate affects the revenues of subscription business models, other models, such as franchising and retailing, also face churn. Startups develop advanced analytics solutions that allow businesses to understand their customers better. In this way, brands and companies adjust their products based on customer demands and improve customer satisfaction, which leads to improved sales.
Pecan AI is an Israeli startup offering a codeless, auto-machine learning (AutoML) platform for FMCG, retail, and direct-to-consumer (D2C) industries. The startup automates data preparation, feature engineering, and AI-based predictive analytics to forecast consumer churn behavior. The AI also optimizes predictive models to stop customer loss and increase retention. Pecan AI further offers demand forecasting models to optimize upselling strategies. Together, the solutions enable businesses to assess churn risks and improve products to facilitate retention.
Obviously AI builds a No-Code Tool to Build & Run AI Models
Building an efficient AI model without data silos is critical to implementing prediction models for supply chain optimization and product development. To create these models, enterprises need a data science team. However, acquiring new talents with extensive knowledge in AI modeling consumes time and increases expenses. Startups aid corporates by reducing operational costs with automated AI algorithm-building tools that demand minimal human intervention and easy coding.
US-based data science startup Obviously AI enables businesses to build machine learning algorithms without writing code. The startup deploys customized ML algorithms to accelerate model generation and forecast revenue. The algorithms also optimize the supply chain and personalize marketing. The AI supports user-generated data, as well as data source integration for MySQL, Salesforce, and PostgreSQL. Obviously AI’s solution speeds up AI model generation and reduces costs for enterprises.
Flashana Technologies enables Inventory Optimization
Accurate demand forecasting ensures optimum inventory control for consumer industries. It allows brands to efficiently serve customer demands without investing a significant amount in stocks. Inventory management forecasting also helps businesses that rent warehouses reduce expenses on storage. Startups now develop data analytics solutions to streamline inventory management.
Flashana Technologies is a Canadian startup that uses an analysis model based on historical inventory and sales data to optimize inventory management. The startup’s predictive analytics solution minimizes stock levels while balancing supply-demand cycles. This, in turn, saves expenses on warehousing and reduces inventory turnover. Further, Flashana helps brands identify the successful stock keep units (SKUs) among a changing customer behavior landscape.
Premonition.io provides AI-based Enterprise Logistics
Logistics forecasting involves generating predictions with varying weather patterns, variable fuel costs, and last-mile delivery expenses. Therefore, it is challenging to build an efficient predictive model for logistics. Startups utilize seasonal planning, buyer trend analysis, and intuitive planning to build logistics forecasting models. This helps consumer industries improve resource planning and reduce operating costs.
Australian startup Premonition.io offers an AI-based platform for real-time predictive logistics. The startup’s cloud-based services allow multi-vehicle routing and real-time optimization, adapting to real-time changes such as re-routing. Furthermore, their platform provides accurate and live fleet-tracking, as well as an application programming interface (API) that integrates with standard warehouse management and e-commerce systems.
Discover more Data Analytics startups
The 731 startups developing forecast solutions for consumer industries, such as the 5 examples highlighted in this report, focus on AI-based solutions to forecast churn, demand, supply, as well as overall logistics operations. While all of these technologies play a major role in advancing data-driven decision-making, they only represent the tip of the iceberg. To explore more data analytics solutions, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Industry Innovation Reports to save your time and improve strategic decision-making.