SAN FRANCISCO, June 28, 2022 /PRNewswire/ -- PredictHQ, the demand intelligence company, and Lighthouse by BCG, Boston Consulting Group's high frequency data and analytics engine for real-time demand forecasting have today announced a partnership to advance the growth and utilization of demand intelligence, creating a world of far more accurate, real-world aware forecasting and planning.
Through this partnership, BCG's data analysts and scientists will be able to access and deploy PredictHQ's verified and enriched data for their retail, accommodation, and transport clients, with plans to extend this coverage. PredictHQ, in turn, will learn from Lighthouse by BCG's AI experts how they use and integrate the data for major global businesses, informing the growing tech company's product development and direction.
Lighthouse by BCG focuses on demand forecasting across all industries using a broad range of data such as consumer mobility, online spending leading indicators, air travel demand, as well as economic activity tracking. Understanding which events drive people movement and spending is critical for this demand intelligence capability.
Major companies are increasingly using event data, and PredictHQ's demand intelligence specifically. Companies such as Uber, Domino's, Favor, and Accor Hotels use PredictHQ's verified and enriched event data to identify their demand drivers in advance so they can prepare their staffing, stocking, pricing and operational strategies to make the most of rich pockets of demand, as well as mitigate impact during quieter times.
"For truly industry-leading forecasting, dynamic scenario planning and operational decisions, companies need access to world-leading data that is prepared for easy access to utilization. Our partnership with PredictHQ arms our team with deep insight into demand drivers, so we can enable our clients to make smarter decisions at scale," says Aaron Arnoldsen, a partner with Lighthouse by BCG.
Lighthouse by BCG will draw on PredictHQ's data to inform their forecasting models for clients across categories such as scheduled events including school and public holidays, expos, sports, concerts, and festivals; as well as live-breaking unscheduled events including airport delays, health warnings, and severe weather.
"We are thrilled to partner with Lighthouse by BCG because of their talented data scientists and data analysts' vast experience working with external datasets," says PredictHQ CSO, Richard Bray. "The Lighthouse by BCG team understands the impact demand intelligence can have on forecast accuracy and how powerful this dataset can be. Factoring it into decision making and planning is increasingly urgent as companies grapple with changed consumer habits in the new normal. Equipping BCG with the ability to direct their clients towards rich pockets of demand and patterns that were previously hidden from them is an exciting opportunity as we continue to bring demand intelligence to the world."
PredictHQ, the demand intelligence company, empowers global organizations to anticipate changes in demand for their products and services. PredictHQ's demand intelligence API aggregates events from hundreds of sources and verifies, enriches, and ranks them by predicted impact so companies can proactively discover catalysts that will impact demand. With PredictHQ, businesses gain a leg up on the competition and remain confident in their ability to meet customers' ever-changing needs.
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