Menu
ncarol.com
  • Home
  • Education
  • Financial
  • Business
  • Finance
  • Nyse
  • Health
  • Stocks
  • Banking
ncarol.com

International Institute of Forecasters Announces Wayfair as Winner of the 2025 IIF Forecasting Practice Competition
ncarol.com/10287928

Trending...
  • Inkdnylon Custom Apparel Launches Cost-Saving System for Promotional Products and Custom Apparel in Chicago
  • Heritage at Manalapan Introduces New Single-Family Home Community in One of Monmouth County's Most Desirable Locations
  • Shincheonji Marks 42nd Anniversary: From a Basement to a Denomination Growing by Tens of Thousands Annually
International Institute of Forecasters
CHARLOTTE, N.C. - ncarol.com -- The International Institute of Forecasters (IIF) is pleased to announce Wayfair as the winner of the 2025 IIF Forecasting Practice Competition. The winner, Wayfair, receives the prestigious IIF Award for the Impact of Forecasting in Practice, along with a $10,000 prize.

The IIF Award for the Impact of Forecasting in Practice recognizes businesses and institutions that demonstrate significant impact through the application of forecasting and contribute to the forecasting community. This year's competition, the first of its kind for the IIF, showcased outstanding examples of forecasting in practice.

Entries were open to companies and institutions, with teams of up to five contributors. Finalist teams were required to attend the Foresight Practitioner Conference in person for the Final Round and will submit details of their methodology and impact for publication in a special issue of Foresight: The International Journal of Applied Forecasting.  An impact statement from an executive of the organization was also required.

More on ncarol.com
  • NEW MANAGEMENT BOOK: Creating a Joy-Centric Culture
  • Alternative Singer Songwriter Big Bus Dream, Proudly Releases, Passionate Decay
  • QuickTrack by Datalex Transforms Retail Promoter Management with Claude AI and Real-Time Insights
  • Kaltra Introduces Seasonal Discounts on Replacement Coils for Carrier, York, and Trane Chillers
  • Evolve Construction Mobilizes Commercial Storm Response Across Illinois With AI-Powered Damage Documentation and Public Adjusters Partnership

Applications were evaluated based on five key criteria:
  • Impact to the business or institution, including quantifiable value-add and cost considerations.
  • Impact on the forecasting community through advancing technology, sharing best practices, and publications.
  • Degree of technical and/or organizational challenge overcome.
  • Role of forecasting in the solution and the portion of value-add attributable to forecasting.
  • Style and quality of the application and presentation.
The competition included a call for submissions on October 15, 2024, initial applications due on December 9, 2024, and finalists announced on January 10, 2025.  The five finalists selected were Ipiranga, Wayfair, OpenGrid Europe, HP, and Maersk. Final applications were due February 10, 2025, with finalist presentations held on Sunday, March 2, 2025.  The winner, Wayfair, was announced on Monday, March 3, 2025 at the Foresight Practitioner Conference in Charlotte, NC, and a reprisal of the winner's presentation is scheduled to take place at the conference on Tuesday, March 4, 2025.

More on ncarol.com
  • Kindred Management Group Announces Opening
  • The World's First Fully Regenerative Economy: Securing Energy, Food, and a Clean Planet
  • Cash Every Denomination Announces Hustlers Haven 2.0 (Legacy Edition) — Exclusively on Even April 24
  • The State of Law Firm Marketing: Top Companies, Awards, and Resources
  • USA Best Book Awards Finalist What Love Leaves Behind Releases March 24

Wayfair's application was based on their internal demand forecasting system, Demetra, which produces monthly demand forecasts over a 1 to 18 month horizon at the product level across the US, for millions of products.  Compared to Wayfair's legacy model, Demtra reduced forecast root mean squared error from 10% to 2%, reduced forecast bias from 7% to 2%, and reduced forecast refresh time from 22 days to 5 days, driving financial impact to the company in the tens of millions of dollars.

The 2025 Competition Committee was chaired by Chris Fry and co-chaired by Pierre Pinson, with members Matthew Schneider, Len Tashman, and Elaine Deschamps. The Adjudication Panel included the committee members along with Nikos Kourentzes and Tao Hong.

About the International Institute of Forecasters

The International Institute of Forecasters (www.forecasters.org) is dedicated to promoting and improving the science and practice of forecasting. The IIF provides resources, conferences, and publications for forecasters worldwide.

Contact
Ying Fry
***@forecasters.org


Source: International Institute of Forecasters

Show All News | Report Violation

0 Comments
1000 characters max.

Latest on ncarol.com
  • Jackets for Jobs Hosts Smart & Sexy® Day Detroit for Women's History Month
  • Celebrate Wilbur Wright's Birthday With The First Flight Society On Thursday, April 16th!
  • Tint Academy Training in Dallas Texas: Learn Window Tint & PPF Installation
  • $IBG accelerates toward transformative merger with BlockFuel as $6 million raise fuels dual-industry growth strategy: N A S D A Q: IBG
  • High-Growth Power Infrastructure Play Targets AI Boom: 1606 Corp. Executes Aggressive Texas Expansion Strategy: 1606 Corp. (Stock Symbol: CBDW) $CBDW
  • Accelerating the Transformation into a U.S. Nuclear Fuel Cycle Leader: Frontier Nuclear and Minerals Inc. (N A S D A Q: FNUC)
  • Ozz Metals Ltd Secures 1-Tonne Gold Offtake Agreement
  • Jet Set: The Ultimate Coachella Afterparty
  • Heritage at Manalapan Introduces New Single-Family Home Community in One of Monmouth County's Most Desirable Locations
  • Compliant Workspace announces partnership with Blackpoint Cyber
  • Michigan Homeowners Urged to Act on Rising Basement Waterproofing Needs Amid Severe Flood
  • Event Solutions Enters New Era: Announces New Leadership
  • Carlsbad Hotel Named Best of La Quinta Award Winner
  • Scoop Social Co. Launches a New Era of Mobile Hospitality — One Truck, Two Experiences
  • Record Sales Growth After Strategic Acquisitions; New Distribution Agreements for Established Premium Cigar Supplier: Green Leaf Innovations $GRLF
  • R2 Copilot Addresses Critical Privacy Issues as Enterprise AI Spending and Security Incidents Rise
  • Innovative Environmental Technologies Unveils New Website Featuring Free AI Tools for the Environmental Industry
  • CCHR Warns: Psychiatric Diagnoses Without Biological Proof Now Used to Justify Euthanasia
  • Impact Filtration Appoints Alejandro Sturniolo as Head of Sustainability to Engineer High-Performance, Water-Positive Infrastructure
  • Small Group Soccer Launches Youth Training Program in Raleigh, NC Starting May 2026
_catLbl0 _catLbl1

Popular on ncarol.com

  • François Arnaud, star of Heated Rivalry, is the real-life inspiration behind Christopher Stoddard's novel At Night Only - 118
  • Purple Heart Recipient Honored by Hall of Fame Son In Viral Tribute Sparking National Conversation on Service Fatherhood, Healing and Legacy - 101
  • Ice Melts. Infrastructure Fails. What Happens to Clean Water?
  • Training Lofts Launches $1,099 Unlimited Training Membership Featuring Semi-Private Coaching, Nutrition Support, and Recovery Services
  • Lineus Medical's SafeBreak® Vascular Added to Alliant GPO Contract
  • National Expansion Ignited Across Amazon $AMZN, Chewy $CHWY & Walmart $WMT: NDT Pharmaceuticals, Inc. (Stock Symbol: NDTP) $NDTP
  • VENUS Goes Live on CATEX Exchange As UK Financial Ltd Activates The Premier Division Of The Maya Meme's League
  • Amicly Launches as a Safety-First Social App Designed to Help People Build Real, Meaningful Friendships
  • 66% of US Bankruptcies Are Medical — So Americans Are Building Businesses That Cover Healthcare Emergencies
  • Elder Abuse Case Against Healthy Traditions Owner Raises Questions As To The Dire Reality Of Abuse Against The Last Of The Baby Boomers

Similar on ncarol.com

  • Targeting the Billion-Dollar U.S. Countermeasure Market With AI-Driven Biodefense Platform: Lunai Bioworks (N A S D A Q: LNAI)
  • New Global Standard for Transparency Across Critical Resources and Energy Markets: SMX (Security Matters) PLC (N A S D A Q: SMX)
  • Forced Psychiatric Hospitalization Fails Vulnerable People: CCHR Urges Repeal Amid Rising U.S. Policies
  • Surging Into High-Performance AI With $AMD Partnership, Patent Expansion, and Strengthened Balance Sheet: Avalon GloboCare Corp. (N A S D A Q: ALBT)
  • NEW MANAGEMENT BOOK: Creating a Joy-Centric Culture
  • QuickTrack by Datalex Transforms Retail Promoter Management with Claude AI and Real-Time Insights
  • Kaltra Introduces Seasonal Discounts on Replacement Coils for Carrier, York, and Trane Chillers
  • Evolve Construction Mobilizes Commercial Storm Response Across Illinois With AI-Powered Damage Documentation and Public Adjusters Partnership
  • The World's First Fully Regenerative Economy: Securing Energy, Food, and a Clean Planet
  • Inkdnylon Custom Apparel Launches Cost-Saving System for Promotional Products and Custom Apparel in Chicago
Copyright © 2026 ncarol.com | Contact Us | Privacy Policy | Terms of Service | Contribute