Panel does something about the weather
New York -- You might not be able to predict the weather, but that doesn’t mean you can’t anticipate weather-driven adjustments to sales predictions.
That’s one of the ideas from a panel discussion held in New York and focused on weather’s role on business and consumer behavior. The panel, hosted by weather-focused analytics firm Planalytics was called “Weatherizing your business.”
Panelist Paul Bosher, European director of business intelligence for Coca-Cola Enterprises, pointed out that weather forecasts are not always accurate, but “that doesn’t mean you can’t forecast the impact on your business. We know the weather last year, and based on normal paterns, we can estimate the impact of the weather this year.”
He said Coke uses a metric called “weather neutral sales” to better measure the company’s execution.
Other panelists included Brad Eckhart, VP planning and allocation for Ralph Lauren Polo outlet stores; Anthony Green, senior VP business development, Brand Networks; and James Smith, chief revenue officer, Verve Mobile.
Executives at Planalytics pointed out that rarely do weather events such as snowfall and rain repeat in the same calendar period from one year to the next. “The ability to identify and manage weather’s impact requires more than a simple weather forecast,” the company said.