Category: Agribusiness, Meat, & Other Food
The Beauty of Backtesting in Forecasting
In fact, every forecast will be wrong. The variable is determining how wrong it will be. When a forecasting model lacks validity, it leads to detrimental business decisions, causing more harm than good. That is where backtesting makes a difference With backtesting leading the way to stronger, more accurate forecasts,...
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The Meat Industry’s Coronavirus Conundrum
Lower demand With the World Health Organization (WHO) officially declaring the coronavirus outbreak as a pandemic, countries across the globe have pushed for an increase in social distancing and quarantines. In many countries, most notably China and Italy, there have been nationwide lockdowns and non-essential shops like bars and restaurants...
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The Future for Commodity Price Forecasting for QSR’s, Fast Casual Dining, & Family Dining
Whereas cyclical supply and demand seasonality used to be the key factor for food cost stability, today factors are more widespread and the stakes are higher. Note the volatility tornado whipped up by geopolitical, environmental, and operational variables from the past few years: 2019’s wettest North American growing season on...
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The Path to Advanced Analytics: Buy vs. Build
In order to track and use data efficiently, your business needs to integrate some form of advanced analytics solution that will help you both track and analyze key metrics, and ultimately, make better decisions. Choosing an analytics solution While most leaders know the importance of using an analytics solution for...
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The ASF Factor: Pork Prices and Market Mayhem
While the countries affected by this outbreak have been doing everything possible to try and stop this virus, it has already led to worldwide devastation, with one in four pigs affected by ASF since the first outbreak was reported. Although some experts believe that this outbreak will end soon, there...
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