Case Study – BETTER FORECAST – A PART OF BETTER AIRPORT® EDINBURGH AIRPORT
Using Better Forecast, Edinburgh Airport has been able to increase its forecast accuracy to over 95%, while spending significantly less time on forecasting.
Copenhagen Optimization participated in a competitive process for Edinburgh Airport (EDI) when selecting their new forecasting tool. As part of the competitive process, a forecast competition was carried out to evaluate the accuracy of the forecast and the time required to produce the forecast, among other things. The feedback from the EDI team was that Better Forecast delivered superior user experience and clearly delivered the highest accuracy among the competitors.
Following the competition, integrations to the EDI data warehouse were created, which ensures seamless and continuous updates of all relevant input to Better Forecast. EDI was able to reduce the time spend on forecasting significantly. This was primarily achieved by an innovative approach to automation and improvement to the forecast accuracy with a minimum need for manual adjustments.
“Since implementing Better Forecast our planning team has been able to drop the use of cumbersome excel models and move from several days to produce a forecast to a matter of hours. We see Better Forecast as delivering an excellent user experience (enabling less reliance on key personnel), a significant improvement in our speed to produce a forecast and importantly more accurate forecasts that our teams are able to rely upon.”
Says Zoë Todd, Head of Business Planning, Edinburgh Airport
―The average daily forecast accuracy increased to over 95%
―100% of the days are forecasted within ± 10%.
―Forecasting is no longer dependent on the skills and knowledge of single employees.
―Significant reduction in the need for manual work in the forecast process.
―After fully implementing Better Forecast, EDI also did a trial and procured Better Check-in. After experiencing the benefits of multiple modules in the Better Airport portfolio, EDI is currently trialing other modules as well.