Bring Business Forecasting Out of the Basement and Shed Some Light on Predictive Analysis
Ever visit the offices of the analytical team that does your business forecasting? In the old days, you took the elevator to the bottom floor and walked down long halls containing boxes of files. When you entered the room, you found weary people slaving over spreadsheets and mumbling, ‘who knows’ and ‘anybody’s guess’. The planning cycle lasted five years, so there was plenty of time for rumination!
Today, your analytical team is everywhere. They are the team leaders, the managers, the individuals who are expected to produce results and if they can accurately forecast and predict results at every level of the organization, the company will be better able to plan its strategy and pursue competitive success. Today’s business users need sophisticated software to quickly forecast and predict results. The pace is fast and the planning process requires daily review and adjustment to keep up with competition and changing customer buying behaviors.
We live in a world of quick decisions – but these decisions have to be accurate or we’ll be out of business. Business intelligence and corporate performance management becomes more sophisticated, forecasting and predictive analysis is more important than ever but the prospect of analytics is daunting for most companies.
Never fear! New BI and CPM solutions have made it possible for the average enterprise to leverage complex predictive analysis using. These forecasting and predictive analysis solutions are simple to use. You can compile data. Select and execute the right predictive analysis technique to produce clear reports and results. Understand trends and patterns in customer demographics plan and achieve sales forecasts, predict and execute new product features to improve market share, and plan for financial investments and resources.