Snowflake’s platform enables organizations to easily unify, integrate, analyze and share their data within the Data Cloud. Its success is down to its capability to offer automatic and infinite scalability, and increased productivity. You can now do in minutes, what once took hours on-premise.

Another differentiator from the monolithic tech giants is Snowflake’s unlimited elastic properties – the ability to scale up or down your data storage and payment model. Snowflake’s per-second compute pricing helps democratize data storage, so companies big and small can do great things and become data-driven.

This is something that we at Peak love, as we think that all companies should have the opportunity to win in the AI era – not just the big tech companies like Netflix, Google and Facebook. So, we’re really excited to announce that our new platform feature, Data Bridge, now connects directly with Snowflake.

Snowflake and Peak: accelerate value from your data!

Peak’s Data Bridge now supports Snowflake, as well as Amazon S3 and Amazon Redshift. This means you can accelerate value from your Snowflake account by unleashing the power of Peak’s platform, without losing control of your data.

Peak enriches your data with Decision Intelligence, the commercial application of AI, and then applies the power of Peak’s AI solutions to generate sales, predict demand and manage supply chain processes. Peak enables you to integrate siloed data and build AI and machine learning models in rapid time, supercharging your business decisions to become a data-driven organization.

Data Bridge ensures your data is secure, as data is stored in your own infrastructure with no need to duplicate it outside your walls. It allows Peak to drive Decision Intelligence outcomes for your business, with you retaining complete, secure control over your data.

The Snowflake Data Bridge is a vital step in starting to become Decision Intelligence driven, and tie back tangible business outcomes from your data lake investment to drive profit and growth.

Connecting to Snowflake is all part of our mission to democratize Decision Intelligence so that it’s accessible for all. Businesses on an AI journey get a winning combination of Snowflake and Peak’s technology, as well as Peak’s industry expertise and data science support. It opens up the opportunity to supercharge your short-term gains while building your transformational in-house capabilities.  

If the world was stable, this would not be such a problem as it would be relatively easy to predict – but it’s not. The reality is that we live in a VUCA world. with increasingly volatile demand affected by changing consumer habits and attitudes. The shift to the digitization of marketing channels, coupled with consumer preferences for socially responsible products and personalization, has already increased the complexity of forecasting. And this was before the black swan of COVID-19 made its appearance.

These trends have been amplified by the pandemic, with 62% of consumers now saying ESG concerns are more likely to influence their buying behavior, according to EY.  It’s also more important than ever to have the right product, in the right place at the right time given that consumers’ expectations of convenience have increased. An out-of-stock is a frustrating experience for both CPGs and consumers, and does not engender brand loyalty.

How do CPGs adapt to this fast-paced world? By adopting the predictive qualities of AI, CPGs can become more agile. With this in mind, we’ve teamed up with Amazon Web Services (AWS) to produce a solution that AWS claims is 50% more accurate in predicting demand than traditional forecasting techniques. We’ve integrated AWS’s Forecast algorithm (which powers Amazon’s own retail offering) into our Decision Intelligence platform, making it easily accessible so you don’t need to be a data scientist to use it.

The flagship tool is an easy-to-use application for demand planners which uses an ensemble of techniques, including sophisticated deep learning algorithms, to accurately forecast demand. We created it as part of our mission to develop accessible AI that’s easily adoptable for everyone, so all companies can benefit from the technology. It’s an opportunity to inject the power of Amazon’s formidable 20 years’ experience and expertise in AI into your own demand forecasting abilities.

Our customers are already seeing the benefits of the predictive ability of AI, with Speedy Hire achieving an 18% reduction in inventory levels based on the ability to predict what, when and where their inventory is needed.

Peak’s AWS Forecast is designed to help inform decisions on inventory optimization, manufacturing scheduling, allocation and assortment, demand and labor planning, warehouse optimization, logistics optimization and Distribution Resource Planning.

Book a demo of our Dynamic Inventory AI application to find out more about AI for demand forecasting, and the role it could play in your business. Check out our demo to learn more about AWS Forecast and our platform ?

Enjoyed this blog? Here are a few more resources explaining the benefit of utilizing AI for demand forecasting…

? Learn more about Peak’s Demand Intelligence solution

? Consumer goods: Identifying the demand signal

? Discover how AI-powered forecasting increased a retailer’s profits by $3m