The situation
Market forecasts across Europe, built in Excel at both European and country level.
The challenge
- Heavy manual workloadAn Excel-based method gave low accuracy and could not detect trend shifts, which held back capacity planning.
- Complex hierarchiesForecasting at European and country level created cascading inconsistencies.
- Fixing one part broke anotherAdjustments in one area caused errors elsewhere: "fixing one part of a balloon only for another to pop."
What Indicio did
- Automated data integration and model building replaced the repetitive Excel work.
- Hierarchical forecasting aligned the European total with country and segment levels.
- Scenarios are simulated when market conditions shift, before decisions are made.
The result
- 70%
- less manual effort and time spent on forecasting
The team spends its time on analysis and strategy instead of spreadsheets.
European totals, countries and segments now add up.
On sales, pricing, production planning and market positioning.
“Indicio gives us confidence in our market forecast and makes it easier to make decisions for the management team about the goals we need to achieve.”
How it was done
Automated data integration
Indicio gathers and updates the relevant economic indicators as soon as new data is available.
Advanced yet accessible models
Several statistical models run in parallel and are fused into one forecast, easy to use for non-specialists.
Consistent hierarchy
European aggregates, countries and segments stay consistent with each other.
About six months to implement
The team adapted the system at its own pace while keeping up its day-to-day work in sales, marketing and pricing.
“It kind of had the feeling of a balloon: you fix one part and another problem pops up elsewhere.”
“Now we have something very good and consistent set up and running. It saves us a lot of time and has improved the output of our forecasts.”
“Although there is a lot of science in it, we are able to use the platform in our own way without having to go too deep into every detail.”
Proud partner of Logiconomi Connections
Indicio is part of Logiconomi Connections, Toyota Material Handling Europe’s ecosystem of innovative technology and solution partners working together to address key logistics challenges.
Learn more about Logiconomi Connections