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DemandTec, Inc., a San Carlos, Calif.-based provider of on-demand optimization solutions for retailers and consumer products manufacturers, has tapped Weather Trends International (WTI) to provide year-ahead weather insights and forecasts for users on the DemandTec TradePoint Network and for use in the underlying DemandTec modeling platform.
DemandTec’s merchandising and marketing optimization solution provides retailers and manufacturers with consumer insights at the point of decision. With the WTI solution, DemandTec customers can access relevant climate insights and more accurate forecasts as they make pricing, promotion, assortment and marketing decisions.
“One-degree year-over-year change in temperatures can result in significant changes in consumer product demand for retailers and their suppliers,” said Bill Kirk, CEO of Bethlehem, Pa.-based Weather Trends International. “We are able to project this volatility up to a year ahead into the future and at forecast accuracy levels exceeding 80 percent.”
Incorporating WTI’s weather guidance into the DemandTec modeling platform and software solutions will enable customers to understand and shape demand while factoring in the weather’s influence down to the ZIP code or store level, said DemandTec.
“Weather Trends International offers valuable context for our customers as they plan critical merchandising and sales strategies,” said Marc Dietz, VP of marketing at DemandTec. “WTI’s weather guidance on the DemandTec TradePoint Network and embedded in our models will provide both our retailer and manufacturer customers with more accurate volume forecasts and access to related weather data when they need it most.”
DemandTec chose Weather Trends International because retailers and consumer products manufacturers, including Walmart, Kohl’s, Anheuser-Busch, Reckitt Benckiser and SC Johnson, already use WTI’s business weather tools, which have proved their ability to mitigate the risk of volatile climate changes on businesses.