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Navigating AI in Demand Forecasting: Assessing Current Practices and Evaluation Criteria Among Software Suppliers

Author

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  • benedikt Sonnleitner
  • Filotas Theodosiou
  • Yves R Sagaert

Abstract

Vives is positioned on the interface between research and application. Accordingly, the forecasting team at Vives in the center of expertise for business management aims to bring relevant new research to the practice and also pick up new practical questions that are relevant for research. To do so it is vital to collaborate with (local) companies. In the SAIL project we conducted a market study on Belgian forecasting-software vendors. Based on that we outline a strategic agenda for such future collaborations by first giving an overview over the state of the art in forecasting software and then surveying the global and Belgian forecasting software enterprises. These can be assorted according to their industry, use case, and methodological focus. Out of the focus of the forecasting software companies contrasted with the amount of literature corresponding to these focus areas, we can develop a research and consulting agenda. The results of the market study are summarized in a (i) report, (ii) poster, and a (iii) presentation. The presentation can be used to help start future collaborations as it summarizes the competencies and focus of the forecasting team at Vives. The report includes an interactive map that shows the forecasting companies in Belgium.

Suggested Citation

  • benedikt Sonnleitner & Filotas Theodosiou & Yves R Sagaert, 2024. "Navigating AI in Demand Forecasting: Assessing Current Practices and Evaluation Criteria Among Software Suppliers," Working Papers of Department of Decision Sciences and Information Management, Leuven 758426, KU Leuven, Faculty of Economics and Business (FEB), Department of Decision Sciences and Information Management, Leuven.
    • Handle: RePEc:ete:kbiper:758426
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