Overview
Product demand is often highly volatile and difficult to predict, particularly if your business is vulnerable to seasonal, climatic, and weather variations. Respond™ weather analytics help you predict demand for your building repair products and services by giving you the reliable, timely weather-related data you need. You can avoid the limitations of statistical forecasting because Respond provides solid choices, rather than forcing you to rely on padded inventories and shifting quantities reactively—which can lead to local shortages, oversupplies, and disgruntled customers.
Correlate weather events to product demand
If inadequate weather-related demand planning is costing your business, Verisk’s analysis and forecasting can tie into your demand planning system with predictive analytics that correlate climate and weather events—such as hail, wind, and hurricane—to product demand.
Optimize response to storm-driven demand surges
When weather damage occurs, businesses, homes, and communities need to repair and rebuild. You can forecast storm demand surges more precisely by using predictive analytics from Respond to correlate each storm’s damage severity to local inventory needs for building materials and restoration supplies.
As a result, you can increase revenue and provide superior customer service to your distributors and builders by:
- Maximizing revenue potential in each region while averting unnecessary inventory buildup
- Anticipating more accurately the surge in purchasing by distributors and retailers after a storm
- Reacting quickly to provide product before and after the storm
- Differentiating between organic, seasonal, and short-term weather-related growth
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Customer inquiries for sales and support for Benchmark and Respond are provided by our Xactware team.