IRIS by Argon & Co addresses the challenge of setting forecast accuracy objectives in demand planning processes, recognizing the impracticality of aiming for 100% accuracy due to inherent unpredictability. Their approach involves defining tailored accuracy metrics considering lag, granularity, and error metrics, and implementing a comprehensive dashboard for evaluation. This dashboard measures various aspects including accuracy, bias, R2, stability, and confidence intervals. By setting accuracy targets using benchmarks and quantitative methods, they enable control over the forecasting process. Additionally, their methodology includes testing and learning by comparing models and analyzing specific products or regions to understand behaviors, adaptability, and limitations.

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