ForecastGPT sharpens business prediction

ForecastGPT, a predictive analytics platform, enables organisations to predict future trends accurately, optimise resource allocation, and enhance business performance.

It was revealed by Harman’s Digital Transformations Solutions (DTS) Business Unit, a strategic business dedicated to blending the physical and digital to make business technology more dynamic.

Leveraging advanced GPT technology, ForecastGPT has reasoning capabilities and provides detailed commentary to explain trends in data. It is designed for businesses that need to make accurate predictions and informed decisions and operate in dynamic and uncertain markets, where demand and supply can vary significantly.

The platform supports a variety of forecasting scenarios such as sales forecasting (sales volumes, demand patterns), supply chain forecasting (inventory levels, stockouts), financial planning (revenue, expenses, cash flow), marketing (marketing campaigns, click through rates) across industries such as retail, manufacturing, healthcare, hospitality, and communications.

For example, in financial planning scenarios, analysts can forecast revenue from multiple streams with precision, identify anomalies and generate detailed commentary to explain the trends in the data.​

“Embracing AI is imperative for business success and at Harman DTS, we are pioneering the application of AI to deliver tangible, bottom-line results,” said Nick Parrotta, president of DTS, and chief digital and information officer at Harman.

“By understanding the unique challenges and aspirations of each client, we’re crafting AI solutions that go beyond generic predictions.

“The ForecastGPT platform is a testament to our commitment to equipping businesses with the tools to move past challenging roadblocks and fully capitalise on the potential of AI.”

Designed with a singular focus on predictive analytics, ForecastGPT allows for a deeper understanding of complex data patterns and accurate forecasting without requiring any predefined templates or formulas.

The platform features advanced AI capabilities, real-time adaptability and the ability to integrate with various platforms, supported by a dedicated implementation team. It can work with any data format and source, such as CSV, Excel, SQL or API.

* Visit the website here.