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Harman's Digital Transformations Solutions (DTS) Business Unit, a strategic business dedicated to blending the physical and digital to make business technology more dynamic, is introducing ForecastGPT, a predictive analytics platform that empowers organisations to accurately predict future trends, optimize resource allocation, and enhance overall business performance.
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.
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Nick Parrotta, President, Digital Transformation Solutions and Chief Digital and Information officer at Harman said, “Embracing AI is imperative for business success and at Harman DTS, we are pioneering the application of AI to deliver tangible, bottom-line results. 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 capitalize on the potential of AI.”
Harman ForecastGPT 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, Communications etc. 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.