A key function of the forecasting team is to mitigate risk by providing insights to business stakeholders.
This includes assumptions that drive risk, potential impacts to results and risk probability estimates—all critical in formulating strategies and investments.
However, just measuring the accuracy of the final results does not provide critical insights into what key assumptions drove that level of inaccuracy.
Enterprise Forecast Process Improvement allows:
- Constructive collaboration as Forecast teams easily share risk results with decision makers via reporting tools/dashboards
- Better understanding and interpretation of forecast results
- Enhanced scenario analysis through discrete scenarios, decision trees or Monte Carlo simulations
- More efficiencies and automation for better data quality and more reliable forecasting
- Prioritized risk assessment through process improvement
If you are interested in implementing FPI in your organization, contact us today to schedule a demo of i2e or visit our Demo Video Showroom.