Skarp can improve forecast accuracy in any organisation operating in a high volume sector: the large quantity of data and influencing factors makes identifying underlying trends and interactions extremely challenging. However, it is precisely what our machine learning algorithms are designed for, and where they perform best.
Examples of organisation where Skarp can improve performance include retailers, restaurants, bars, consumer goods brands, travel operators, healthcare providers and police forces.
Accurate forecasts improve performance right across a retail business. Your store managers avoid under- or over-staffing; your merchandisers allocate stock more efficiently; your marketers run proactive, ROI-based campaigns; and your senior team has clarity on what’s truly driving performance.
Skarp allows you to leverage the vast quantities of data produced by every retail business, giving you a performance advantage not enjoyed by your competitors.
Skarp generates highly accurate site-level forecasts, broken down by hour, daypart or day. By improving on existing forecasts, this allows general managers to more precisely match staffing and prep levels to footfall. With staffing the single biggest cost in most hospitality businesses, this can result in significant cost savings and/or better customer experience.
At a head office level, Skarp provides clarity on what’s driving performance over the coming weeks - allowing you to prioritise what’s most important and be proactive in getting ahead of the competition.
Skarp is proven to be 20% more accurate than Fourth - find out more
Having the right number of staff on shift is fundamental to both profitability and guest experience. Skarp generates precise site-level forecasts of both room occupancy and F&B revenue, broken down by day, daypart or hour - allowing your managers to eliminate over- and under-staffing. These forecasts can also reduce wastage on food and beverage costs, laundry and cleaning.
For head office teams, clarity on what factors are driving sales allows each department to work proactively and prioritise the actions that will truly make a difference.
By significantly improving the accuracy of your demand forecasts, Skarp enables you to optimize buying / production volumes, increase stockholding efficiency and protect your margin by reducing unnecessary markdowns.
Confidence in your forecasts also feeds into the marketing calendar and the timing of promotional campaigns. Skarp can help you identify the best time to run a promotion, and by comparing actual sales to our forecast you can more accurately quantify the return on investment from marketing spend.
Revenue management is an extremely complicated topic, but at the heart of the best revenue management strategies are demand forecasts. These allow you to be proactive in your pricing & stock allocation decisions rather than simply responding to the market.
Skarp will generate an accurate demand forecast at the granularity & time horizon you require, and we can provide the output directly into your existing revenue management model. Because our analytics engine uses advanced data science techniques and takes account of external data sources, the resulting demand forecast will give you a significant advantage over your competitors.
From criminal offences to A&E admissions, demand for library services and inbound calls to HMRC, accurate forecasts can help public sector organisations plan their expenditure, staffing and priorities more efficiently.
Even more so than in the commercial arena, the list of factors affecting demand for public services is seemingly endless - meaning it's too complex for basic modelling approaches. Skarp's artificial intelligence algorithms can identify the signal within the noise and pick out those factors that are truly affecting demand. We can help any public sector organisation regardless of your current in-house analytical capability and are confident we can help you improve your performance for the same or lower cost as now.
If you work in a high volume organisation that would benefit from accurate short and medium term forecasts, Skarp can help.
There is no setup fee or minimum contract term with Skarp, and we offer all new clients a proof of concept free of charge. We believe the accuracy of our forecasts will speak for itself.