Welcome to CatchBull
In an increasingly complex and dynamic world, CatchBull believes that forecasting should always add value – our mission is to “make forecasting pay.”
Having spent millions on forecasting systems and time-consuming processes trying (and often failing) to improve on their outputs, most companies’ achievement of real business benefits remain frustrated. Recent research* has revealed that:
- Forecast processes in 50% of businesses fail to add value
- Even in high performing businesses, typically only 50% of low level forecasts add value
- The costs of these failures can be significant; about 50% of error is avoidable, adding 2-4% to the cost of production.
Given that so many companies are in this position, CatchBull reasoned that, “doing what most companies do,” was unlikely to fix it. The missing link from most forecasting software and processes is a “continuous feedback loop” which:
- Allows forecasters to isolate, diagnose and fix issues as they occur, at a granular level (which is where value is added or destroyed; to measure only aggregate forecast accuracy misses many of the issues and often provokes inappropriate responses).
- Delivers an enterprise-wide, transparent system for monitoring and benchmarking forecast performance across multiple dimensions, (e.g. product, geography and channel)
- Provides a simple, graphically driven interface, free from statistical jargon making the results accessible to general management, experts and novice contributors to the process alike.
This is what CatchBull has developed. ForecastQT™ is the first Forecast Performance Management system, designed to enhance whatever forecasting software and processes you are using.
* First published in Foresight magazine, Winter 2014