Since 2004, our client, a company with pharmaceutical assets, has commissioned ongoing annual forecasts for a portfolio of initially six, now 15, products to support legal reporting and decision-making. The forecasts cover many complex therapy areas including oncology, autoimmune disorders and anti-infectives and are predominantly global forecasts, with regional breakdowns for the EU5, the U.S. and Japan provided separately.
In collaboration with our client, we developed a well-defined process that includes standardized reports and leverages our proprietary Forecast Architect® software for the models. During the process, we constantly communicated with the client, informing them of any significant changes in the assumptions due to recent events.
The same forecasters collaborate with the client each year to maintain continuity, and each forecast is rigorously pressure-tested and revised before being presented to the client, who is still able to challenge the assumptions to ensure further rigor before the final version of the forecast is delivered.
Coupling a standardized process with a team of knowledgeable forecasters, we have delivered accurate results, on time, year after year. When the client has validated actuals against forecasts, the error margin has been extremely low since we started working with them in 2004.
The fact that our client has renewed this large and important project every year for the last eight years, while also working with us on other specialized engagements, is a true testament to their satisfaction with the accuracy and depth of our forecasts.