A pioneering forecasting method developed by a Bangor Business School Professor is changing the processes of global companies, including Uber, Amazon and Bosch.
The Theta Method is the brainchild of Professor Konstantinos Nikolopoulos and enables optimised stock level forecasting within 10 milliseconds.
Theta is an accurate, fast, and a computationally cheap time series method which is now widely used across regional, national, and international businesses and governments, globally, resulting in significant economic savings and efficiencies.
And here are some incredible examples of its impact:
UBER is using the Theta method worldwide for forecasting time series. Especially beneficial to Uber, as their forecasts are needed at various frequencies down to every 10 milliseconds.
BOSCH is using Theta for forecasting the demand for their very popular series of Power Tools.
Amazon benchmark against Theta for forecasting all product demands and sales, globally.
Bangor University's research focus, and the full support of visionary academics enabled me to move the Theta method to the next level, cementing it as the ultimate benchmark in industrial forecasting.